MoneyRates Blog
Bank Money Market Rates Outpacing Yields on Money Funds
By Clark Schultz | Money-Rates Columnist
Mutual fund money markets have had a tumultous six months. A perfect storm arose to test the whole industry. First, the safety of money funds was called into question after several funds “broke the buck” during the mortgage-backed securities crisis. Then yields on money funds were pushed down close to 1% after the Fed lowered [...]
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Banks and Credit Unions Paying Higher Interest Rates
By MoneyRates team | Money-Rates Columnist
CD Rates, Money Market Rates, Savings Rates, and Checking Rates have all increased this week with 4%, 5%, and even 6% rates available from FDIC-insured banks. Unique rate deals this week include:
10.00% APY from Shore Bank on their Grand Slam checking account for balances from $.01 to $1,000. Must live in eligible county in Maryland [...]
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Rate Update: Mortgages, Home Equity Loans, Money Markets, Checking, Savings, CDs, and Reward Checking
By MoneyRates team | Money-Rates Columnist
Mortgage Rates
A bad week for the homebuyers looking to lock-in 15-year and 30-year rates as economic reports drove up rates on fixed-rate mortgages. Freddie Mac reported that the nation’s average 30-year fixed-rate mortgage increased all the way to 6.42%. Analysts are forecasting higher rates continuing at least through the summer. The best news for the [...]
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Great Online Bank Rate Deals on Money Markets, Checking Accounts, Savings Accounts, and CDs
By MoneyRates team | Money-Rates Columnist
Interest rates have been dropping at banks across the country as the Fed looks likely to lower rates at their next meeting on January 30th if not sooner. Competition among the top online banks has kept the highest-posted rates over 5.00% which is significantly higher than U.S. Treasuries yields, Short-Term U.S. Government Bond Fund Yields, [...]
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SAVINGS RATES UPDATE
By MoneyRates team | Money-Rates Columnist
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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