Personal Finance Blog By MoneyRates - Money Market Accounts

Americans get richer in the third quarter

December 14, 2010

Despite the dismal housing market, Americans are making progress in rebuilding their wealth. U.S. household net worth rose 2.2 percent to $54.9 trillion, a gain of $1.2 trillion, in the third quarter, according to recently released statistics by the Federal Reserve. The uptick follows a decline in the spring, but continues a rebound since first quarter of [...]

Job creation is up: hope amid depressing unemployment news

December 7, 2010

In the wake of the U.S. Department of Labor's depressing jobs report for November, Gallup's Job Creation Index provides a glimmer of hope. According to the index, job creation reached its highest level in November in more than two years. The nationwide index hit a positive 11, the best reading since September 2008, Gallup said. The [...]

Does Good News for Banks Mean Good News for Savings and Money Market Accounts?

November 29, 2010

Improved bank profitability may be the first step towards improved interest rates on CDs, savings accounts, and money market accounts.

A sigh of relief: Oil prices take a step back (for now)

November 24, 2010

Read about a potential threat to CDs, savings, and money market accounts that has started to back off -- for the time being.

Political fallout puts the Fed in the spotlight

November 23, 2010

Until the economic meltdown, the last time most Americans thought much about the workings of the Federal Reserve system was back in college when they took Macroeconomics 101. Fed policy, after all, isn't sexy, not even to lawmakers. "Monetary policy has always been considered boring on Capitol Hill, something left to remote policy wonks far [...]

Recent employment report has good news for deposit rates

November 8, 2010

If October's improvement in employment turns into a trend, look for it to lead to a turnaround in bank interest rates.

Is 70 the new 65?

October 19, 2010

When it comes to retirement, 70 is quickly becoming the new 65, according to the latest "Unretirement Index" by Sun Financial Inc., a global financial services company. As the economy stumbles along towards recovery, the latest index survey found that 80 percent of Americans think they'll need at least three years to rebuild their retirement [...]

How the dollar and the deficit threaten savings accounts

October 13, 2010

A lower dollar might help US trade, but if taken too far could turn the budget deficit into the next financial crisis.

Surprising number of parents use retirement accounts to save for kids' college, study says

October 12, 2010

Almost a quarter of American parents who are saving for their children's college education make costly mistakes, such as using retirement accounts for education savings, according to a new national study conducted by Gallup and Sallie Mae. "Without dedicated college savings plans or accounts that facilitate good distinct planning for both retirement and college, American [...]

Bank customers choosing savings and money market accounts over CDs

September 14, 2010

Amid the tough economy, consumers are keeping more of their cash liquid and less of it tied up in CDs, according to Market Rates Insight, a San Anselmo, Calif. market research firm for banks and credit unions. Although total security deposits dropped in the second half of 2010, deposits in money market accounts, savings accounts [...]

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