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Interest rates are down again!

December 13th, 2007 at 11:11 am

Darn, the fed lowered the interest rate again and my bank has already lowered theirs too.
Because my dh is a builder, I keep a large amount of liquid cash in local banks. I was getting a decent 5.25% return on my money without any risk. The rate has gone down 3 times in the past few months, and now the rate is down to 4.16%.

Now, we certainly don't live on the interest, but it sure would be nice to, someday.
However, even with this terrible slow down, if nothing comes along for him to build, he is going to build a spec house to keep himself busy! So the cash has to stay liquid!!
I figure that this rate cut is going to cost me $5,450 in interest next year and that is if they don't lower the rate any more!!

2 Responses to “Interest rates are down again!”

  1. Amber Says:

    Hopefully it won't stay that wasy (I know I am being optimistic) I am waiting my self to see what ING does

  2. scfr Says:

    Yes, the lower rates sure stink!

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