July 22nd, 2009
Our company was mentioned in a recent Article that MarketWatch wrote. Reading the comments on the article is almost as much fun as the article itself. :O) The article mostly focuses on Discover Bank which we also advertise for. They did also get the industry standard digs against brokered deposits, but overall a good read.
A commenter even mentions a site I hadn’t heard of for CD rates before. I’ll even be nice and post the link. After all, it helps our loyal readers ,which in the big scheme of things helps us. Check-out, Bankfox. Who knows, maybe they’ll see a bunch of traffic from us and want to repay in kind. :O) They do have a 4-month CD advertised for 2.50% APY. If you want a “good” rate without locking it up too long, that maybe a good bet.
BTW, here is the link to the article. If you leave a comment, let me know. You do have to sign up for a free account in order to leave comments. I did. Market Watch Story.
Finally, just some quick commentary since I seem unable to get an actual newsletter out. Big Ben (Ben Bernanke) commented yesterday that rates would remain low for an extended period of time. That was like dropping a cup of blood in a pool of sharks. Bankers have swarmed around that tender morsel and begun to lower rates. On average, we’ve seen a 20 to 30 Basis point (0.20 to 0.30%) drop in rates. This coupled with continued weaknesses in the economy leads me to believe that even when the Fed does start to increase rates, it will be in quite a slow fashion.
We do still have a 1Y at 2.50% APY. It does require a $100,000. I can’t give out the info for free, but if you contact us from our site or the blog alert, I’ll give you a 30% discount on our fees. This is only good for non-IRA personal funds.
Have a great rest of your week.
-- By +Chris Duncan