MoneyRates Blog
Federal Reserve Keeps Rates Unchanged
The Federal Reserve kept their benchmark lending rate at 5.25%. The statement released by the Fed indicates that the Fed anticipates that despite slow economic growth inflation could persist in the economy.
“Economic growth appears to have been moderate during the first half of this year, despite the ongoing adjustment in the housing sector. The economy [...]
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Credit Card Offerings
Credit card rates have increased across national averages, but excellent no-fee balance transfer options are still available. Visit the money-rates.com credit card report for more information and searchable card options. A solid offer from HSBC Bank is their Union Plus Mastercard which offers 1.99% APR on all purchases for 6 months, 6.99% APR on balance [...]
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Bank Deposit Rates
The FDIC-insured banks offering the highest rates on bank deposits today include:
everbank.com’s 6.01% introductory APY on their FreeNet Checking account is still available as is the 6.00% FNBO Savings account special which is guaranteed until 9/28/2007
Crestmark Bank coming in at 5.40% APY on 90-day and 180-day CD terms and 5.50% at one year.
Greystone Bank [...]
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Retail Money Funds
Money fund rates have held steady in the last week. Typically these funds are comprised of short-term government securities or highly rated commercial paper and maintain extremely high safety ratings. Below are listed 7-day average annualized yields of some leading money funds:
TIAA-CREF Money Market Fund 5.18%, $2,500 minimumVanguard Prime Money Market Fund 5.12%, $3,000 minimumHarbor [...]
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FOREIGN-DENOMINATED SAVINGS ACCOUNTS
everbank.com is offering foreign-denominated CDs with terms from 90 days to 10 years which allow some international diversification for income investors. Everbank.com is a FDIC-insured bank, but principal invested in their WorldCurrency CDs is subject to currency appreciation or depreciation during the term of the CD. The current 90-day APY for various WorldCurrency CDs [...]
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COLLEGE SAVINGS
Independent 529 plans offer parents the chance to pay for college in the future at today’s price which can lead to large discounts on future costs. The program co-sponsored between Independent 529 plan and TIAA-CREF allows allows you to prepay tuition today that your child can use later at any participating college. This program protects [...]
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INVESTING UPDATE
Dividend Stocks - Yields have increased in 2007 on dividends offered by companies in the S&P500 Index.Examples of large companies with strong earnings which pay dividends include: US Bancorp (USB) 4.61%, Verizon (VZ) 4.30%, Citigroup (C) 4.10%, AT&T (T) 3.64%, and Pfizer (PFE) 4.31%.
Money Funds - GE Capital is offering their GE Interest Plus Notes [...]
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SAVINGS RATES UPDATE
Today’s bank rate offerings include New Dominion Bank which is offering variable rate CDs with an interest rate tied to the Wall Street Journal prime rate. The bank will adjust the rate on the CDs as the prime rate increases or decreases. Current rates are 1-year (5.50% APY), 18-month (5.55% APY), 2-year (5.60% APY), and [...]
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CREDIT CARD RATES
Rate specials this week include: Starbucks VISA card with rewards and 0.00% for 6 billing cycles Pulaski Bank VISA/MasterCard 7.99% APR for balances and cash advances, 0.00% for 6 billing periods on balance transfers BP (British Petroleum) VISA card with a 10% intro rebate offer on gas purchases [...]
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