CD Deals Summary
Fed Holds Rates Steady But Signals One More Rate Hike - Strategies for Savers
Fed Meeting Preview and Deposit Rate Forecast - Sep 13, 2023
There Are 6,458 (or 7.9%) Fewer US Bank Branches Now Than in 2020 — Here Are the States, Metros That Lost the MostNew CapOne/Costco and UFB Direct Money Market Rates
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POSTED
ON BY Ken Tumin
CapitalOne/Costco Money Market rate increased from 3.88% to 3.95% APY last night. Also, some of the CD rates went up also. The 5-year CD is now 5.03% (another 5%+ CD).
I also noticed a change in UFB Direct's rates. The High Yield Money Market Savings remains at 3.80% APY. However, the Jumbo Money Market Account is now at 4.08% APY. It has a $50K minimum balance requirement.
It'll be interesting to see how fast banks respond to the Fed's rate hike. Of course there's no direct connection between the Fed and the banks. But there has been a trend of banks responding within a month after a Fed rate hike.
I'm still waiting on ING Direct's next rate hike....
I also noticed a change in UFB Direct's rates. The High Yield Money Market Savings remains at 3.80% APY. However, the Jumbo Money Market Account is now at 4.08% APY. It has a $50K minimum balance requirement.
It'll be interesting to see how fast banks respond to the Fed's rate hike. Of course there's no direct connection between the Fed and the banks. But there has been a trend of banks responding within a month after a Fed rate hike.
I'm still waiting on ING Direct's next rate hike....