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Home > Grrr, interest rates down!!

Grrr, interest rates down!!

September 21st, 2007 at 08:33 pm

I just checked my money market accounts and they have changed the interest they are paying. I have been getting 5.25% in my local bank for over the past year and I noticed that they lowered the rate to 4.64% durn, I was having fun watching that interest add up.

Posted in Uncategorized | 5 Comments »

5 Responses to “Grrr, interest rates down!!”

  1. JanH Says:
    September 21st, 2007 at 09:08 pm 1190408927
    1190408927

    Wow, that's quite a drop. I haven't checked mine yet, but I bet that mine is down, too.

  2. Easy Cloud Says:
    September 22nd, 2007 at 05:05 am 1190437551
    1190437551

    Did you try to lock in your rate by opening up a CD? I just did that right before the Fed lower the over night lending rate. You can still get a 5% rate on 6 or 12 month CD if you act now. That's not bad from the rate before, which is 5.3%. I'm using the rate of my bank as a reference.

  3. Ima saver Says:
    September 22nd, 2007 at 12:33 pm 1190464424
    1190464424

    I do have 2 cd's paying more than 5% but I was keeping this in a money market in case we wanted to build a spec house.

  4. refundsweepers Says:
    September 24th, 2007 at 04:54 pm 1190652896
    1190652896

    The tv said the people are loosing their homes and they expect the interests to drop a couple more times. If that happens we should all be looking to lock up money in a CD.

    I recall after 9-11 the rate was so low I didn't even get 1% on my savings and that went on for years.

    I guess we all better tighten our belts with the high price of gas and the grocery store prices up, we all have less money to put in the bank.

    We just need to save save save. I use coupons and try to get them doubled when I shop. refundsweepers.com has around 30 money saving forums and I also use coupon codes when I shop online. It all adds up!!

  5. Aleta Says:
    September 24th, 2007 at 06:54 pm 1190660052
    1190660052

    I locked in a new agreement with my bank for a rate for the next six months that was lower than what I was getting before. I knew that the rates would drop and my rate was for 4.50% Not too bad for the next questionable 6 months with its expected rate drops.

    With the increased prices, I can't see how we can't have inflation and if we feel the difference, how must those that don't do what we do, feel it?

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