May 30th, 2012
I figured providing a post on where the top rates are this week might be helpful for our loyal readers. Remember, if you find a good rate, let me know. Others may be able to take advantage of it as well. A reader recently shared City County CU. It turned out to be local to Florida, but we have quite a few Florida readers.
We do have access to a 2.15% APY for 5-years. As a special, we will only charge 5 Basis Points. Your net yield after our fee would be above what Pentagon is paying. Just shoot me a message if you want more details. This has a $50,000 minimum (for individuals only).
Rates continue to fall
One thing I noticed as I was updating the above posts, that the longer term rates had fallen 0.25% to 0.50% since last year. The shorter-term rates had not fallen as much. I have noted before, that the longer the Fed holds rates low, the flatter the yield curve will get. There is still too much uncertainty across the world for the Fed to have any reason to change their stance. Other than the Fed, supply and demand can have an affect on rates, but banks are still sitting on way too much cash for them to need to start a price war amongst themselves.
I also wanted to let you know about some of my writings elsewhere. We have been partnered with the Gobanking network for sometime and I have written a few articles over there. Let me know what you think. If there are any topics you would like me to tackle, let me know. Always looking for ideas. Never Close a Late Night Deal Safest Investment for Your Refund CD Rates Are Terrible, But Who Cares?
Have a great week.
-- By +Chris Duncan