Today's Bank Rates
- 6 Month CD 1.28%
- 1-year CD 1.57%
- 2-year CD 1.84%
- Money Market Account 1.20%
- Savings Account 1.33%
- 30-year Fixed Mortgage 4.71%
Rates provided by MoneyRates.com based on average rates for deposits under $10K and conforming refinance mortgage rates.
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 >>With Savings Interest Rates Low and Bank Fees Rising, Customers Must Take Care
Higher bank fee rates can wipe out any savings account interest you earn, or even zero out your account balance, so be sure to know how much you are paying, and for what.
Read More >>FDIC Bailout May Depress Savings Account Rates, Money Market Rates, and CD Rates
As the FDIC needs more money to pay for failed banks, the burden may fall unfairly on the shoulders of savers in the form of lower money market rates, and other bank rates.
Read More >>
CIT, 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 11/01/2009First Time Homebuyer Credit Likely Won't Be Extended
According to the ISI Group, a prominent research firm, the first time homebuyer tax credit of $8,000 may not be extended past the November 30, 2009 deadline. Mortgage brokers have reported wavering demand for purchase money mortgages as homebuyers wait to find out if this tax credit will be extended or not.
Posted 10/30/2009High 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 10/19/2009A Big Week for Bank Earnings
Major banks are set to release third quarter earnings reports this week. JPMorgan kicks off the bank earning festivities on Wednesday. Citigroup and Goldman Sachs are due to report on Thursday, followed by Bank of America on Friday. Bank stocks have soared over the past months, but bad loans continue to plague the industry.
Posted 10/19/2009Bank of America Looks for New CEO
Bank of America shareholders are protesting against the possibility of a new CEO coming from the ranks of existing B of A management. Despite a recently rising stock price, many shareholders call Bank of America's purchase of Merrill Lynch under government direction a poor deal for shareholders.
Posted 10/16/2009Australia Raises Interest Rates
Australia's central bank raised interest rates in that country by a quarter point, to 3.25 percent. It is perceived that this move signals strength in the Australian economy, and the global economy as a whole. The Australian dollar ascended to a 14-year high against the U.S. dollar following the news.
Posted 10/12/2009Bank Rates May Rise As 3 Changing Conditions Take Hold
Bank rates, like savings account rates, CD rates, and mortgages may be set to rise as the recession eases, inflation returns, and housing prices start to perk up. Read More >>
Posted 10/07/2009FDIC Moves to "Tap Bank Liquidity"
The FDIC insurance fund has been depleted by the rash of bank failures, 95 so far in 2009. To counter this problem, the FDIC is asking banks to prepay three years of the premiums they pay for FDIC insurance. The payments will be due on December 30, 2009.
Posted 10/04/2009
