Interest Rates

[Jadow]

Anyone else sick of the pathetic CD and savings account rates that are available these days?

It sucks being a saver! I used to have a 5.05% savings account and a 7% cd! Nowadays, I feel "lucky" that I was able to get a 2.8% cd, and my whopping 1.45% savings account! ugh

I understand why the fed moved fast to bring rates down and prop up the economy, but next time around they'd better start raising them! Seems like govt fiscal policy always helps debtors and harms savers!

 

[Dr. Detroit]

I locked into a WAMU 5% 1yr CD last October - kinda dreading thats its coming due in 2-months.

These 1.8% CD rates are the SUCK!

Would love to get back to the 5.5% I was getting 18-months ago.

 

[Gooberlx2]

Double-edged sword. Sucks for saving, but it's great for loans.

 

[Jadow]

Originally posted by: Gooberlx2
Double-edged sword. Sucks for saving, but it's great for loans.

True, but I'm locked up in a great fixed rate mortgage (4.55% 15 year), and don't use debt for anything else, so let the rates RISE!

 

[masteryoda34]

Originally posted by: Jadow
Seems like govt fiscal policy always helps debtors and harms savers!

Definitely! We need free markets to set interest rates, not the federal reserve.

 

[Jadow]

Originally posted by: Fmr12B
I locked into a WAMU 5% 1yr CD last October - kinda dreading thats its coming due in 2-months.

These 1.8% CD rates are the SUCK!

Would love to get back to the 5.5% I was getting 18-months ago.

Yeah, wish I'd had the balls to go long and buy 5 year CDs a couple years ago when you could get 5% plus. But I've always just done one years, next time I get a good rate, I'll go 5 years.

 

[Razgriz]

I never did understand how banks/credit card companies etc can charge us 10-30%+ interest to borrow their money(recession or otherwise) and we can only get 5%+ to save in good economic times. Why can't the savings rate be higher? I'm sure it'd encourage more people to save.

 

[IHateMyJob2004]

A rated bonds

/thread