Today's Bank Rates
- 6 Month CD 1.22%
- 1-year CD 1.52%
- 2-year CD 1.76%
- Money Market Account 1.17%
- Savings Account 1.25%
- 30-year Fixed Mortgage 4.91%
Rates provided by MoneyRates.com based on average rates for deposits under $10K and conforming refinance mortgage rates.
6 Lessons of the Harvest for Savers
MoneyRates.com reminds retirement savers that planning for retirement is like preparing a Thanksgiving feast -- you must build your savings rate over time for a successful harvest
Read More >>Bank Rates and Savers Should Benefit As Recession Ends
Bank rates should start to rise as the recession ends, meaning people who have improved their savings rate can benefit from higher CD rates, savings account interest rates, etc.
Read More >>Bank Rates May Have to Change Soon in Response to Inflation
The best way to make sure your bank rates adjust to rising inflation is to stay in short-term accounts.
Read More >>Bank Rates Could Take a Hit from Latest FDIC Proposal
A recent FDIC proposal could affect your savings account interest rates and CD rates--and possibly even your bank's health.
Read More >>
CD Rates and the Infamous "Inverted Yield Curve"
When the interest rate paid on short-term U.S. Treasury bonds is higher than the interest rate paid on long-term U.S. Treasury bonds, the yield curve is said to be inverted. It happened recently. Typically, CD rates would follow T-bill interest rates. This time, though, CD rates ticked up slightly with the news.
Posted 12/02/2009Dear Santa: How About a Little Something for My Retirement Fund?
With bank rates low, stocks down, and a fragile economy, a poll by MoneyRates and Get Rich Slowly shows higher savings rates for retirement is the most popular holiday gift choice. Read More >>
Posted 11/25/2009"We Will Not Seek to Contain China's Rise"
President Obama took the opportunity of a trip to China to pursue economic friendship. With three out of the four biggest banks in the world now located in China, the U.S.-China relationship may prove, over time, the most determinative factor of all in terms of bank rates and banking practices.
Posted 11/23/2009Banks Under Fire to Stop Mixing Savings, Investments
Senator Paul Jankorsky wants to reinstate some form of the Glass-Steagall Act, which separated banking activities from more speculative investing activities and was repealed in 1999. Jankorsky's mission appears to be gaining ground, but faces opposition from bankers. Bank rates could change if rules that govern bank behavior change.
Posted 11/20/2009Monthly Checking Account Maintenance Fees Growing
While Congress is focusing on overdraft fees, a Money Rates survey shows that maintenance fees have been growing more quickly in recent months. Read More >>
Posted 11/14/2009Goldman, Buffett Want Fannie Mae Tax Credits
Investment bank Goldman Sachs and investor Warren Buffett want to purchase federal tax credits from Fannie Mae, the government-owned mortgage finance company. Fannie Mae cannot use the tax credits because the entity already has so many losses. Analysts estimate that Goldman and Buffett would net annualized returns of 30 percent from the deal.
Posted 11/09/2009CIT, Major Commercial Lender, Finally Files for Bankruptcy
After a year of struggling to remain afloat, CIT has officially filed for bankruptcy. CIT is a major commercial lender that has been in business for more than 100 years. The move to file bankruptcy will give the bank the best chance to reorganize and stay in business, according to analyts
Posted 11/06/2009Geithner Says New Laws Won't Mean More Bank Bailouts
Secretary of the Treasury Timothy Geithner believes that new bank regulations being pondered by the U.S. Congress may not, as Republicans have been arguing, further cement the notion that certain banks are "too big to fail" and thus automatically receive taxpayer dollars if their businesses go sour.
Posted 11/01/2009High Savings Rates Can Be Maintained by Continuing Good Habits
Shopping for the best savings account rates, and other good habits acquired in the recession, can be continued in the recovery so you can keep building your savings rate. Read More >>
Posted 10/29/2009Certificates of Deposits To Be Issued by Federal Reserve?
Chairman of the Federal Reserve Ben Bernanke has been talking publicly about how he plans to prevent inflation in the coming years. One idea that came up recently was for the Federal Reserve to essentially issue certificates of deposit, i.e. hold deposits and pay pre-set interest rates, like a bank.
Posted 10/26/2009JPMorgan and Goldman Cruising, Citi Muddles Along
As bank earnings for the third quarter are released this week, results have been mixed. JPMorgan Chase reported a massive $3.6 billion profit for the third quarter, while rival giant Citigroup eked out net income of $101 million. Goldman Sachs, meanwhile, reported a third quarter profit of $3.2 billion.
Posted 10/21/2009Insufficient Retirement Savings Rate Confirmed By New MoneyRates Poll
More than half the respondents to a recent Money-Rates.com poll say they're behind on their retirement savings. If you're like them, get back on track with a realistic look at your retirement plan. Read More >>
Posted 10/19/2009
