Money market savings question.
11-02-2005, 08:25 AM
#2
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same reason why interest rates for mortages weren't down to 3%. that rate is only for short term loans from the reserves to the banks. or someshit like that. with time it will trickle down but not immediately.
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Originally Posted by WiLL
...I really wanna get out and shoot people.
11-02-2005, 08:25 AM
#3
snitches get stitches
Fed raised the key interest rate to 4%...I can only assume your MM is locked in at its current percentage. That's hella low since I'm getting 4% from a savings account.
11-02-2005, 08:59 AM
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Originally Posted by Nelson
ING Direct ftw
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11-02-2005, 11:27 AM
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COSI - Cost of Savings Index.........it doesn't go up or down very fast.......which is a good thing for people on option arms or other home loan products connected to that, however that also means that your interest rates on your savings accounts, money markets, etc aren't going to rise very fast either.
11-02-2005, 11:37 AM
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Originally Posted by ISP James
where? the only way you can come close to that here is with a 6 mo cd.
11-02-2005, 12:02 PM
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Originally Posted by RB
Fed raised the key interest rate to 4%...I can only assume your MM is locked in at its current percentage. That's hella low since I'm getting 4% from a savings account.
4% on a savings account is unheard of. Please give me the name of your bank, I'm serious, because I want to open an account there.
The highest savings account interest rate I've seen is 1%............4%, I really do want the name of your bank.
A lot of Money Markets are tiered(sp?) For instance mine works like this
0-20,000 2.8%
20,001 - 50,000 3.9%
50,001 + 5%
11-02-2005, 12:11 PM
#10
Originally Posted by BonzoAPD
Only one I know of is through Emmigrant. 4% savings, no minimum. Still thinking about giving it a shot.