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Could money market interest rates see 5%???????

redgtxdi

redgtxdi

Diamond Member
Tempted to pull some $$$ & put it into a CD. Wouldn't like having $10K sittin' in a CD, but at 5.41%, might be a worthwhile move for 12months???


Obviously, CD rates would move up too, accordingly, but wondering if money market rates will see 5% anytime soon.

My dad got my grandmother a 6% CD rate somehow around Thanksgiving time......(that was miraculous, imho, at that time but he did it). But I also assume she was dumpin' a waaaaaaaay larger amount into that thing than my cheap arse could afford!

Anyway......curious if folks think these current rate increases are a *delayed* response to the fed's last hike based on possible future hikes, or if it's a serious *anticipation* of a pending, near-future increase at the next fed meeting?????
 
Probably a delayed response. I've got a CD at 6.25% (18 mo) through a local credit union about a year ago.

I really wish I had that money in hand, though. I mean, I put in $1000 into a 12-month at 6.0%, and after losing access to the dough for a year, I will have made $60.00. Woo. When my CDs mature I plan to drop them into market index funds, where I'll have a decent chance of making a better return. (or losing money, but meh)
 
Ya, I hear ya'!! It's kinda' tough kissin' money goodbye like that for such a long while, but you're still doing pretty good & better than having it sit somewhere doing nothing. (I tend to do that in my checking account just 'cuz I'm paranoid & like that *buffer* in there just in case).


Same feeling regarding this CD stuff.

I learned a hard lesson back in '96/'97 when money market rates were around 5.25% and I was livin' high on the hog w/ some loose cash & watchin' it earn good $$$ every month, then watched rates dip down to below 1% over the next 10 years!! YIKES!!!!!

My young a$$ learned quickly that there are no guarantees in investing!! Who knows how long this wave will go!! I can only hope I make some wise decisions while it goes!


Wondering, too, if the fed is serious about another increase. Seems like this next bump (even .25%) would weigh pretty heavily in everyone's minds in terms of how the economy/market jump. Of course, I could be wrong. The fed might do nothing and/or even if they did, the general public might just take it in stride & nobody care!

???
 
MM don't keep up with inflation, so you can get excited about 5% all you want, but if they reach those %'s, you're still losing money... same with CD's. I don't understand the hype myself.
 
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