Rates Hold Pretty Steady

Rates are holding relatively constant.

The best savings rates held relatively stable through the beginning of the week of August 13. Some 3 and 6-month CD rates fell so that the best 3 month is now 5.35% and the best 6 month is now 5.42%. IndyMac's 5.55% 5-month rate is now significantly more attractive than either.

While 2 and 3 year CD rates have come in slightly, Virtual Bank has held its offer at 5.39%.

 

 

 

Sol Nasisi
Sol Nasisi: Sol Nasisi is the co-founder and a past president of BestCashCow, an online resource for comprehensive bank rate information. In this capacity, he closely followed rate trends for all savings-related and loan products and the impact of rate fluctuations on the economy. He specifically focused on how rates impact consumers' ability to borrow and save. He also has authored a wee

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Comments

  • Roberto

    August 15, 2007

    Fascinating. It really is great that rates are holding constant while treasury rates are falling and while there is so much cash coming out of the stock and bond markets. Thanks for posting!

  • Trishelle

    August 15, 2007

    I wouldn't call this fascinating but thanks for the info anyway.

  • Amelia

    August 15, 2007

    I think it is fascinating. The last time that the stock market went through a major corrective phase (six years ago), the best rate in savings accounts was around 2% in INGDirect. Now, there is competition and rates are going to be much better.

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