The Fed Cuts Rates a Quarter Point

The Fed voted to lower the fed funds rate a quarter point to 4.50% today with one dissenting vote. The rate cut, which follows a 50 point cut in September, will effectively lower the prime lending rate in the United States to 7.50%. Loan payments, mortgages, and credit cards which are indexed to the prime [...]

Fed Meeting and Interest Rates

Borrowers are eagerly anticipating another rate cut from the Fed which will have a nearly immediate impact on their home equity loan payments and credit card payments. While short term interest rates on average have fallen in 2007, some remarkable online bank deals still exist. Money market rates from Evergreen Private Bank (5.40% APY, 25K [...]

Chase Bank’s $125 Cash Award to new Checking Customers

Customer who open a Chase Free Checking account with Direct Deposit by December 31, 2007 will receive a $125 cash bonus added to their account.

To earn the bonus customer must visit the Chase site, print the coupon, and visit a local Chase Branch by December 31, 2007 to open a Chase Free Checking [...]

California Bank and Trust Provides Disaster Relief

We love to criticize banks for their shoddy customer service, their relentless fees, and their rigid rules but today there is an example of a bank stepping up to the plate in a time of need. San Diego-based California Bank & Trust has issued the following press release regarding their disaster relief program:
California Bank & [...]

U.S. Treasury Yield Curve

Investors in United States Treasuries have to extend maturities out at least 5 years to earn a 4.00% yield and are only rewarded with another 50 basis points by extending out 30 years. Analysts believe a steepening of the yield curve is on track for 2008 with inflatin expected to pick up.
Investors may find the [...]

Savings for College [UPDATED]

The College Board reported on Oct. 22 that tuition at public and private colleges for the 2007-08 academic year continued to outpace inflation. Parents face on an uphill battle in saving enough money to cover college tuition for their children.Four-year public colleges have taken the hardest hit, with the rate of growth in tuition and [...]

Dividend Yield Update

Dividend News
Companies with profits reward shareholders by paying dividends to owners of the stock. The dividend yield of a stock indicates to the potential investor the yield they can expect at the current stock price and dividend payout. The dividend yield changes when the price of the stock goes up (yield increases) or when the [...]

Bank of America’s Risk Free CD

Bank of America is offering a CD which allows investors to withdraw funds prior to the maturity date without incurring a penalty.

Account Features:
* The ability to withdraw funds prior to the maturity date without penalties
* A minimum deposit of $5,000 and a short 9 month term
* A rate you would typically expect from a [...]

Capital One’s Rewards Money Market

Capital One Bank allows investors to earn rewards for savings not spending. Capital One will award 2,500 bonus miles with a $500 opening deposit into their Rewards Money Market Account. The minimum deposit is only $1, but to earn the bonus miles a customer needs to make that $500 deposit within 30 days of the [...]

Online Piggy Banks for Your Kids

The folks at PiggyBankInc.com have set up a great online tool for parents looking for a little help in allocating allowances to their kids. The site allows parents to set a weekly allowance, interest rate, and enter deposits and withdrawals for each of their kids in separate account accessible online. No money actually changes hands [...]

Online Bank Deposit Deal Summary

The highest yields on FDIC-insured bank deposits are listed below:
Checking Accounts
6.01% APY Everbank.com
5.11% APY Corus Bank
5.10% APY Salem Five Direct
Savings Accounts
5.58% APY Countrywide Bank
5.36% APY AmTrustDirect
5.35% APY Umbrella Bank
Money Market Accounts
6.01% APY Everbank.com
5.56% APY Zions Bank
5.40% APY Evergreen Private Bank
Certificates of Deposit
90-day CD - 5.65% APY IndyMac Bank
90-day CD - 5.50% APY Countrywide Bank
8-month CD [...]

Highly Rated Government Bond Funds

Investors who are looking for bond funds which offer safety and income might consider U.S. government bond funds. These funds, which typically hold U.S. Treasuries, Government Agency paper, Mortgage-backed government entity securities, or other AAA-rated investments, are considered less risky than bond funds which invest in corporate bonds or corporate notes. The shorter the duration [...]

Mutual Bank (Chicago, IL) increases Deposit Rates

Mutual Bank is a 40-year old bank based in Chicago, Illinois. Through their website www.mutualbanking.com this banks has been offering excellent CD rates and money market rates for over one year now. This week Mutual Bank bucked the trend of banks lowering rates and has increased their 1-year CD rate to 5.75%. Current deposit rates [...]

Credit Card Rates and Specials

Credit Card Rate Averages and Special Deals
Banks are starting to offer better rates and deals on their credit cards in response to the lowering of the prime rate - the most significant benchmark to which credit card rates are indexed.
Regular Card - 11.90% national average (specials as low as 7.99% APR)Cash-Back - 12.44% national average [...]

Principal Bank Money Market and Savings Account Rates

Principal Bank has not lowered their deposit rates on money market savings account and regular savings account which has in effect made their rates among the most competitive in the nation
Principal Bank Money Market Accounts$50,000 to $99,999.99 5.03% rate / 5.15% APY
$100,000 to $249,999.99 5.08% rate / 5.20% APY
$250,000 and over 5.13% rate [...]

HSBC Direct Online Savings Account

HSBC Direct is an international bank with operations in the United States, Canada, Taiwan, and South Korea. The HSBC Direct Online Savings Account has been one of the premiere savings accounts in the United States for over one year now and currently is offering a 4.50% APY on all balances. Customers can link their online [...]

Interest Rates Review - October 5, 2007

Interest rates had a mixed weeks with mortgage rates decreasing, bank deposit rates decreasing, and The 50 point interest rate cut by the Federal Reserve may be enough to keep the U.S. economy from sinking as a result of the financial markets’ recent turmoil, Donald Kohn, vice chairman of the central bank, said Friday. Kohn [...]

All About ING Direct’s Electric Orange Checking Account

ING Direct has a checking account that is truly in a class by itself. Beyond the great rates paid on the monthly balance (between 3.50% and 4.90% depending upon balance), the Electric Orange Account is the nation’s first paperless checking account. And the suprising part is that a paperless checking account is more about being [...]

Mutual Bank in Chicago Keeps 5.00% Rates

Mutual Bank based in Chicago, Illinois is one of the few online banks still holding their deposit rates on CDs at 5.00% or higher from 1 year to 5 years. Current rates as of October 4, 2007 are listed below:
12 month CD
$2,500 minimum5.00% monthly
18 month CD
$5,000 minimum4.85% monthly
24 month CD
$5,000 minimum5.20% [...]

U.S. Treasury Yields and the One Year Term

The yield on the 10-year Treasury has dropped 10 points since last week when the yield was threatening 5.00%. Looking at the yield curve from 90 days to 30 years we see an increase of only 102 basis points from 3.78% to 4.80% marking a less dramatic inflation bias than expected by many market watchers. [...]