Interest Rates?

[upnorth]

Anyone have any idea of where interest rates are going to go? I have 2 CDs coming due and the rates stink right now. Are they going up in the near future?

[CJH]

I was thinking the same as Walleye Guy.

[nofishfisherman]

Agreed. You can do better then 1.3% and still leave the money liquid.

[upnorth]

Who is paying better than 1.3$ for savings right now? Most places I seen weren't paying that on shorter term CDs.

[cbrooks]

For nine months I've found some at 2% to 2.5%.google ratezip.It also shows banks in your local area.

[upnorth]

For nine months I've found some at 2% to 2.5%.google ratezip.It also shows banks in your local area.

[nofishfisherman]

a quick look at bankrate and I found that American Bank of the North is offering at least 2% on a 6 month CD or a Money Market Account. Just google the bank name and its the first one listed. Looks like either way you go you'll get a little better rate.

[hanson]

Last I had checked, my ING Direct Orange savings was at 1.5%. It wasn't 2-3 months ago it was at 2.0%. A few years ago, the ING Orange was even up at 4% or so.

You can open an account online and move cash between your checking and the savings freely and even set up recurring deposits between the two as well.

I wish I learned about this a little earlier in life.

Someone mentioned earlier about the book 'Investing Online for Dummies'. First 'Dummies' book I ever bought and it was very, very helpful. The book explains all the various options with the online brokers, what their fees are, what is unique about each one, and the process of executing a trade. Very helpful and gave me the confidence to make a few small stock purchases on my own.

Like the Etrade commercial baby says, "I bought stock! I just bought stock!".

[Tony Holland]

My Etrade Savings account is paying 1.45% APR. Used to be 2.5%. I like it because it is very liquid, i can move to my Etrade checking, or trading account whenever I want. I have been very happy with Etrade....

Also the Max Rate Checking is .75% APR. It also refunds you for all ATM fees and never charges and ATM fee.

[jwhjr]

1.65% right now in my HSBC online acct. It has gone down considerably in the last few months, but still higher than most.

[upnorth]

We went in and renewed the CD with part of the money for 9 mos 1.47%. Took some out and put it in I bonds. Never a bad idea to spread it out a little more anyway.

[Phred52]

upnorth, Do you have a credit union through your employer? If so, I'd suggest you check into some of the plans they offer. Just prior to the downturn, I withdrew most of my money out of the bank and went into 24 month CD's at my credit union, whew, that was JUST in the nick of time, too! I went from ~1.5% interest to ~6%. It's DEFINITELY worth checking into! Phred52

[upnorth]

Unfortunately we don't, instead we deals on service from Wells Fargo where I work.

Nothing looking real good for making money with your money right now. I would like to just be make a bit over inflation, and that is not looking real good right now.

[delcecchi]

You got 6% for 24 months at credit union? Holy Cow. Which one? That is way over market rates, even last year.

[Charley]

I wuold stay away from HSBC and ING both thoses banks are foreign and are not in good shape. They need cash and thats is the rates are higher.

[CJH]

As long as your accounts are FDIC insured (which most are) it doesn't matter where they are located. (as long as you don't exceed the coverage limits)

[Down Deep]

I went from ~1.5% interest to ~6%. It's DEFINITELY worth checking into! Phred52

What is the name of the CU? I called my banker buddy today and he couldn't find a rate in MN anywhere near that. Help please.

[Charley]

CJH --you are correct but I' m not going to put my money in a place that financially sound.

[delcecchi]

Search for "couch potato portfolio" for some interesting information.

You can buy mutual funds through a fund company like Vanguard or Fidelity (two of the biggest no fee fund companies) or you can buy funds in the form of ETF or Exchange Traded Funds through a broker like Etrade or TDameritrade or Schwab or any of a bunch of others. The brokers are all insured up to 500,000 (not against having an investment that goes down but if something goes bad with the broker). You pay a commission to buy ETFs. The online guys are pretty cheap however.