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New best online savings rate, savings and cd averages continue to fall, forecast continues to foresee rates falling for the next 10-16 months.

Salem Five Direct lowered their online savings account rate from 1.25% to 1.00% APY. It had been the highest online savings rate in the country.

Average bank rates trending down. Top savings account rate steady at 1.25% APY while top rewards checking at 3.51% APY.

Savings and CD rates continue to drop. Top national CD rate at 1.135% APY. Guess the top CD rate five years ago.

Belmont Savings Bank has broken ranks with the majority of banks and increased the rate of its PlatinumBlue Savings account from 1.10% APY to 1.15% APY. That's one of the best savings rates in the country.

In June 2011, ING Group agreed to sell ING DIRECT USA to Capital One for $9 billion. Since then, many ING Direct’s customers have feared that their beloved bank would change. Beginning February 2013, the bank will be known as Capital One 360, but what other changes will come in association with this merger?

With Obama's re-election to a second term, Bernanke's job as Chairman of the Fed is now safe. Akin to what Bernanke's been doing, the Fed will most likely continue to keep rates low and print more money.

Savings and CD rate trends, the impact of the fiscal cliff on savers, and my weekly rate forecast.

My weekly recap of savings and CD trends as well as news that might impact rates going forward. Happy Halloween.

The books have always told us the ideal macro story regarding how low rates bolster the economy by allowing borrowers to borrow and spend. But what’s the other not so ideal side of the story? If borrowers are the winners in this, then who are the losers?

Several online banks have increased their online savings or money market rates in the last six months. Is this a trend or an anomaly?

Citizens State Bank of Cadott, WI is offering a Variable IRA (VIRA) rate of 4.00% APY. The Variable IRA requires that you have a checking or savings account at the bank and make at least monthly transfers from one of those accounts into the IRA. There is no minimum transfer amount. The maximum total transfer amount is determined by IRA rules.

This week, I'm going to spotlight Liberty Bank & Trust, a 22 branch bank headquartered in New Orleans. Liberty is offering a 1.31% APY savings account with a $50 minimum balance.

Illinois has some of the top money market account rates. The national average money market rate is 0.23%. Illinois has many rates far above this level. In fact, Illinois has several banks with money market rates above 1.50% APY.