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Best Bank Account Interest Rates - Summary For November 13, 2018


Last week’s Fed meeting went as expected. The Fed decided to hold off on a rate hike. The FOMC statement had nothing to suggest any change to their gradual rate hike policy which means that a December rate hike is very likely.

Another thing to note about last week’s Fed meeting was that there was no mention of the volatility in the financial markets that has occurred since the previous Fed meeting. This suggests that the recent volatility is not enough to impact their decision making. As we keep seeing big stock market losses (like on Monday), it’s good to know that it shouldn’t be swaying the Fed.

The Fed is focused on the economy, and as long as economic growth remains strong, their gradual rate hike policy should continue.

The yields of Treasury notes fell today as oil prices plunged. The fall of oil prices is pushing down inflation expectations, and that is reducing yields on the longer-term Treasuries. From last week, the 10-year yield had the largest decline falling 8 bps to 3.14%. The yield curve as defined by the 10-2 spread (the difference between the yields of the 10-year and 2-year Treasury notes) narrowed from last week, decreasing from 29 bps to 25 bps.

The stock market volatility may be affecting Fed funds futures. The odds of future Fed rate hikes did go down some from last week. The odds of a 25-bps Fed rate hike in December fell from 79.3% last week to 75.8% today. The odds that the Fed rate hike will be at least 50 bps higher by March are now under 50-50. Those odds fell from 57.2% last week to 49.8% today.

The following numbers are based on Daily Treasury Yield Curve Rates and the CME Group FedWatch.

Treasury Yields:

  • 1-month: 2.24% up from 2.23% last week (1.07% a year ago)
  • 6-month: 2.53% up from 2.52% last week (1.37% a year ago)
  • 1-year: 2.72% same as last week (1.55% a year ago)
  • 2--year: 2.89% down from 2.93% last week (1.70% a year ago)
  • 5--year: 2.99% down from 3.05% last week (2.08% a year ago)
  • 10-year: 3.14% down from 3.22% last week (2.40% a year ago)
  • 30-year: 3.36% down from 3.43% last week (2.87% a year ago)

Fed funds futures' probabilities of future rate hikes by:

  • Dec 2018 - up by at least 25 bps: 75.8% down from 79.3% last week
  • Mar 2019 - up by at least 50 bps: 49.8% down from 57.2% last week
  • Jun 2019 - up by at least 75 bps: 30.3% down from 38.8% last week

Savings and Money Market Account Rates

The above graph shows the rate trends of the average savings account rates. These average rates are based on all the rate data that we have collected over the years. This is an interactive graph. You can choose the look-back period (from 3 months to 5 years).

As you can see in the graph, the average savings account rate is well above the five-year high. The average is dominated by brick-and-mortar banks and credit unions. Thus, the average is still low compared to internet savings account rates.

Below are the noteworthy savings and money market account rate changes that have occurred in the last two weeks:

  • PNC High Yield Savings Savings (+15 bps to 2.35% APY)
  • United Bank (CT) Advantage Money Market (+20 bps to 2.30% APY)
  • Vio Bank Online High Yield Savings (+12 bps to 2.27% APY)
  • Pacific National Bank Money Market (+35 bps to 2.25% APY, $5k min)
  • Ally Bank No Penalty CD (+10 bps to 2.20% APY, $25k min)
  • TIAA Bank Yield Pledge Money Market (+35 bps to 2.15% APY, intro)
  • Marcus by Goldman Sachs No Penalty CD (new, 2.15% APY, $500 min)
  • SFGI Direct Savings Account (+16 bps to 2.07% APY)
  • Synchrony Bank High Yield Savings (+15 bps to 2.05% APY)
  • Capital One 360 Money Market (+15 bps to 2.00% APY, $10k min)
  • Alliant Credit Union High-Rate Savings (+5 bps to 1.95% APY)
  • PenFed Premium Online Savings (+20 bps to 1.85% APY, up to $100k)

We now have seven accounts with APYs above 2.25% and 11 accounts with APYs of 2.25%.

The new rate leader is the Personal Money Market Account at the New York-based Quontic Bank. The Bank just recently increased the top-tier rate of this account from 1.25% to 2.40% APY. This requires a $100k minimum balance. Balances between $5k and $100k earn 2.27% APY, and balances under $5k earn 2.00% APY. This is a small bank without much history of offering nationally-available accounts. So it’s questionable if they’ll be able to maintain a competitive money market account over the long run. I’ll have more on this account soon.

Surprisingly, PNC Bank is near the top with its High Yield Savings Account that now earns 2.35% APY on all balances. As the sixth largest bank in the nation by assets and the fifth largest bank by number of branches, it’s surprising to see PNC on top. One important thing to note about this online savings account is that it’s only available in areas where PNC doesn’t have branches (see blog post). This rate increase is promising, but we’ll have to wait and see if PNC is really dedicated to maintain a competitive online savings account over the long run.

Another new rate leader is also limited to certain states. That’s the Advantage Money Market Account at United Bank in Connecticut. United Bank recently increased the promotional rate to 2.30% APY that’s guaranteed for the first 180 days. Residents in about half the states in the nation are eligible to open this account online (see blog post).

Vio Bank moved near the top when it raised its High Yield Online Savings Account rate to 2.27% APY. This applies to all balances. There is no monthly fee, and it requires only a $100 minimum deposit to open. And unlike the above two accounts, this is nationally available. I have more details in this blog post.

We now have three of the large and well-established internet banks offering 2.05% APY on their savings account. Synchrony Bank recently joined Barclays and Goldman Sachs Bank USA. That should put pressure on the others (like Ally, Discover and American Express) to increase their rates to at least 2%.

Due to its latest promotion, Ally Bank may decide to delay its next savings account rate hike. However, it did increase the rates of its 11-month No Penalty CD. The rate for the $25k tier increased to 2.20% APY. The No Penalty CD isn’t as liquid as a savings account, but it does give customers with large balances a way to earn more without giving up much liquidity. Ally does make it easy to close a CD and transfer funds to an Ally account without delay.

Goldman Sachs Bank USA is the latest bank to offer a no-penalty CD. It recently came out with three no-penalty CDs with terms of 7-, 11- and 13-months. The 13-month has the highest rate (2.15% APY). Minimum deposit is only $500. Since the CDs can be closed at anytime after six days of opening without penalty, there’s no reason to consider the lower-rate, shorter-term CDs.

These no-penalty CDs can be nice in that they allow you to earn a higher rate without having to open an account at another bank. However, if you don’t monitor rates, these no-penalty CDs may not be a good deal when rates are rising. A couple of months from now, their savings account rates will likely have higher interest rates than the current no-penalty CD rates. If those no-penalty CDs aren’t closed and the money moved to the savings account or another higher-rate account, customers will be losing out.

Competition from Money Market Funds

Another option for your cash instead of savings accounts and money market accounts are money market funds from brokerages. These don’t have FDIC coverage, but they can be reasonable alternatives to deposit accounts. Back when the Fed was holding rates near zero, money market funds had yields of around 0.01%. Keeping your cash at internet banks made a lot more sense back then. Now, it’s not so clear. Money market fund yields have been steadily rising as the Fed has been hiking rates.

Vanguard Prime Money Market Fund SEC yield continues to be over 2%. It had a slight increase in the last two weeks, rising from 2.21% to 2.24%. Fidelity Money Market Fund’s 7-day yield finally topped 2%. Its yield increased from 1.99% to 2.04%.

Allan Roth has a review at AARP of using money market funds to replace savings accounts. He suggests using funds such as Vanguard Federal Money Market and Vanguard Treasury Money Market yield instead of the Vanguard Prime Money Market Fund. The yields are slightly lower, but they are a little safer due to recent regulation changes. Treasury money market funds have an additional advantage of being exempt from state income taxes.

Municipal money market funds have the advantage of being exempt from federal income tax, but their yields continue to be quite a bit lower than the other money market funds. Vanguard Municipal Money Market Fund now has an SEC yield of 1.54%.

Reward Checking Accounts

There was just one small change to the list of nationally available reward checking accounts. First Tech Federal Credit Union increased the rate of its Dividends Rewards Checking from 1.58% to 2.00% APY. It also increased the balance cap from $10k to $15k.

With savings and money market account rates up to 2.40% APY, it’s hard to get excited about reward checking accounts that earn under 3%, especially when there are small balance caps. Unfortunately, most reward checking accounts have been slow in responding to the rising interest rate environment. As interest rates rise, their appeal as an online savings account alternative has been waning.

To find the highest reward checking rates and balance caps in your state or nationwide, please refer to our reward checking rate table. If you're new to reward checking, please refer to my blog post, Overview of Reward Checking and Our Reward Checking Table.

Certificate of Deposit Rates

I’m now publishing my CD survey as a separate post. Please refer to my survey of the best CD rates. This recap will focus on banking news of the week and liquid accounts.

CD Deals: I just wanted to include this reminder of a few noteworthy CD deals that are available.

We now have two nationally-available 12-month CDs with yields of at least 3.00%. Both are available at easy-membership credit unions. The first is Greenwood Credit Union which is offering a 3.00% APY 12-month CD with a $1k minimum deposit. The second is Advancial Credit Union which is offering a 3.01% APY 12-month Jumbo CD with a $50k minimum deposit.

Advancial also has a top rate on its 18-month Jumbo CD (3.15% APY). This matches the rate of United Bank’s 19-month Flex Up CD, but United Bank's minimum deposit is only $500. This also offers limited add-on deposits. Just like United Bank’s money market account, not all states are eligible.

Longer terms don’t offer much higher rates. However, we are starting to see 4%. A recent 4% CD didn’t last long. Garden Savings Federal Credit Union was offering 4.08% APY on a 4-year CD, but that ended last Friday.

The one 4% CD that’s still available is at the easy-membership Connexus Credit Union. It’s offering a 4.00% APY 5-year CD with a $5k minimum deposit. It also has good deals on shorter-term CDs including a 3.35% APY 3-year CD and a 3.20% APY 2-year CD.

For those who prefer terms under one year, the two best deals are the 9-month CD (2.75% APY) at the easy-membership Andrews Federal Credit Union and the 6-month Jumbo CD (2.78% APY) at Advancial Credit Union.

Rates as of November 13, 2018

Checking/Savings/Money Market Accounts:

  • Noteworthy Accounts Available Nationwide:
Quontic Bank2.40% ($100k), 2.27% ($5k), 2.00% APY (up to $5k)Personal Money Market - Account review
MySavingsDirect2.35%MySavings Account - Account review
PNC Bank2.35% Online High Yield Savings (not available in all states) - Account review
Northpointe Bank2.30% ($25k-$1m, guaranteed for 2 years) Ultimate Money Market - Account review
United Bank (CT)2.30% (6mo rate guarantee) Advantage Money Market, not available in all states - Account review
Vio Bank2.27% Online High Yield Savings
Popular Direct2.26% ($5k min) Popular Direct Plus Savings (60-day freeze on new accounts, see details)Popular Direct Plus Savings - Account review
Zions Bank2.26% ($25k min)Online Money Market (not available in all states) - Account review
MemoryBank2.25% ($1 million max) Online Money Market - Account review
Citizens Access2.25% ($5k min)Online Savings Account - Account review
Pacific National Bank2.25% ($5k min) Money Market Deposit Account - Account review
Customers Bank2.25% ($25k min)Ascent Money Market Savings (rate guarantee through 6/30/2019 - Account review
BankPurely2.25% ($25k min) PurelyMoneyMarket - Account review
iGObanking.com2.25% ($25k min) MMA, New accounts and new money only - Account review
Northfield Bank2.25% ($100k max) Online Platinum Savings - Account review
All America Bank2.25% (up to $50k), 0.50% ($50k+)Mega Money Market Account - Account review
Redneck Bank2.25% (up to $50k), 0.50% ($50k+)Mega Money Market Account
CommunityWide Federal Credit Union2.25% (penalty-free withdrawals first 5 days of each calendar quarter)High Rate Quarterly Funds Account - Account review
Ally Bank2.20% ($25k)No-Penalty 11-month CD - Account review
CIBC USA (formerly The Palladin PrivateBank)2.16%Agility Savings Account - Account review
TIAA Bank2.15% (1yr intro rate) 1.90% ($100k+) ongoing rateYield Pledge Money Market - Account review
PurePoint Financial2.15% ($10k min)Online Savings - Account review
CIT Bank2.15% ($25k min)Savings Builder - Account review
Marcus by Goldman Sachs2.15%13-month No Penalty CD ($500) - Account review
Sallie Mae Bank2.12%Money Market Account - Account review
MutualOne Bank2.12% ($1m max)Online Statement Savings - Account review
SFGI Direct2.07%SGFI Direct Savings Account - Account review
Barclays2.05%Online Savings - Account review
Marcus by Goldman Sachs2.05%High-Yield Online Savings Account - Account review
Bank 72.05% ($100 min)High Rate Online Savings Account
Bank5 Connect2.05% ($100 min) High Interest Savings - Account review
Salem Five Direct2.05% eOne Savings, for new customers only - Account review
Synchrony Bank2.05%High Yield Savings - Account review
CIT Bank2.05% ($1k min)11-month No-Penalty CD - Account review
Bank 72.05% ($5k min)High Rate Online Money Market
Sallie Mae Bank2.02%High Yield Savings - Account review
earn.bank2.02%Money Market Account
NASB2.02% ($25k+), 1.77% (up to $25k), 0.10% ($1.5m+)MMA Special Online Only - Account review
Incredible Bank2.02% ($25k+), 1.21% ($2.5k), IncredibleBank Savings - Account review
First Internet Bank2.02% ($250k+) 1.81% (up to $250k)Money Market Savings
Virtual Bank2.01% (1 year rate guarantee)eMoney Market - Account review
M.Y. Safra Bank2.01% ($500k max)MYSB Direct Online Money Market - Account review
BankUnitedDirect2.01%Online Money Market - Account review
HSBC Direct2.01%HSBC Direct Savings
Live Oak Bank2.00% ($5 million max) Savings Account - Account review
Discover Bank2.00% Online Savings - Account review
American Express National Bank2.00%High Yield Savings - Account review
Chartway Federal Credit Union2.00% ($500)12-month No Penalty CD - Account review
FNBO Direct2.00%Online Savings
Capital One2.00% ($10k+), 0.85% (up to $10k)360 Money Market - Account review
American Heritage Credit Union2.00% ($10k min)High Yield Savings (guaranteed through 12/31/2019)
Presidential Bank2.00% ($100k+), 1.00% ($250k+), 0.25% (less than $100k)Money Market Plus Checking
Radius Bank1.96% ($25k+), 1.50% ($2.5k+)Radius High-Yield Savings - Account review
Alliant Credit Union1.95% ($100 min)High-Rate Savings - Account review
Northpointe Bank1.95% ($25k+), 1.12% (below $25k and $1m+)Ultimate Savings - Account review
Ally Bank1.90%Online Savings - Account review
American Express National Bank2.00%High Yield Savings - Account review
iGObanking.com1.90%iGOsavings - Account review
BankPurely1.90% ($1 min) SavingPurely - Account review
Discover Bank1.90% ($100k min), 1.85% ($2.5k) MMA - Account review
Franklin Synergy Bank1.88% ($500k), 1.75% ($250k), 1.63% ($100k), 1.50% ($50k) Synergy Money Market
PenFed Credit Union1.85%Premium Online Savings
CIT Bank1.85% ($100 min)Money Market - Account review
McGraw-Hill Federal Credit Union1.85% ($100) (guaranteed through 3/31/19)S3 Prime Money Market - Account review
ableBanking1.85% ($250 min)Money Market Savings - Account review
UmbrellaBank1.85% ($25k min), 1.00% ($1k)Money Market
DollarSavingsDirect1.80%Dollar Savings Account - Account review
BBVA Compass1.80% ($10k min, 12mo rate guarantee)ClearChoice MMA Promo - Account review
EBSB Direct1.80% ($10k+), 0.80% ($2m+), 0.50% ($10+)Money Market Special 3 - Account review
West End Bank1.75%Online Savings
Salem Five1.75% ($1m max)Gold Star Money Market - Account review
SmartyPig1.75% SmartyPig Savings - Account review
Quorum Federal Credit Union1.75% HighQ Savings
Bethpage Federal Credit Union1.75% ($500 min)Money Market
Spectrum Credit Union1.75% ($2.5k+), 0.50% ($1+) MarketEdge Money Market
MyBankingDirect1.75% ($25k+), 1.50% ($5k+), 0.25% (less than $5k) Money Market
Self-Help Federal Credit Union1.74% ($500) Money Market - Account review
United Bank (CT)1.70% Prime Money Market Special (in-branch only), Not available in all states -Account review
Colorado Federal Savings Bank1.65% ($50k+) Premier Savings (New customers) - Account review
Amalgamated Bank1.60%Online Savings - Account review
MemoryBank1.60% (up to $250k) EarnMore Interest Checking - Account review
UFB Direct1.60% ($5k min)High Yield Money Market - Account review
CIT Bank1.55%Premier High Yield Savings - Account review
Blue Federal Credit Union1.55%Sky High Savings - Account review
Nationwide Bank1.55% ($10k+), 1.15% APY (up to $10k)Money Market - Account review
nbkc Bank1.51% ($1m max) Personal Money Market Savings
Northern Bank Direct1.51% ($250k max) Money Market - Account review
My eBanc1.50%Super Saver - Account review
INOVA Federal Credit Union1.50% ($100k min)Platinum Money Market Savings

Reward Checking Accounts:

  • Noteworthy Accounts Available Nationwide:
Consumers Credit Union5.09% (up to $10k), 0.20% ($10k-$25k), 0.10% ($25k+) Rewards Checking Tier A- debit card and $1k credit card requirements (Changes effective 10/1/18)
La Capitol Federal Credit Union4.25% (up to $3k), 2.00% ($3k-10k), 0.10% ($10k+)Choice Checking
Consumers Credit Union4.09% (up to $10k), 0.20% ($10k-$25k), 0.10% ($25k+)Rewards Checking Tier B- debit card and $500 credit card requirements (Changes effective 10/1/18)
One American Bank3.50% (up to $10k), 0.25% ($10k+)Kasasa Cash - Account review
Heritage Bank3.33% (up to $25k), 0.15% ($25k+)eCentive Account
Consumers Credit Union3.09% (up to $10k), 0.20% ($10k-$25k), 0.10% ($25k+)Rewards Checking Tier C - debit card with NO credit card requirements (Changes effective 10/1/18)
Market USA Federal Credit Union3.01% (up to $15k), 0.05% ($15k+)VIP Checking Platinum Tier - Account review
Evansville Teachers Federal Credit Union3.00% (up to $20k), 0.00% ($20k+)Vertical Dividend Checking - Account review
MainStreet Bank3.00% (up to $15k), 0.25% ($15k+)Kasasa Cash - Account review
Lake Michigan Credit Union3.00% (up to $15k), 0.00% ($15k+)Max Checking
INOVA Federal Credit Union3.00% (up to $15k), 0.07% ($15k+)Shield Checking - Account review
Signature Federal Credit Union3.00% (up to $15k), 0.10% ($15k+)Choice Checking
Great Lakes Credit Union3.00% (up to $10k), 0.20% ($10k+)Free Checking
Partner Colorado Credit Union3.00% (up to $10k), 0.10% ($10k+)High Interest Checking
Georgia Banking Company2.95% (up to $25k), 1.00% ($25k+)Kasasa Cash - Account review
All America Bank2.75% (up to $10k), 0.50% ($10k+)Ultimate Rewards Checking
Redneck Bank2.75% (up to $10k), 0.50% ($10k+)Redneck Rewards Checking
Campus Federal2.51% (up to $10k), 0.05% ($10k+)Lagniappe Checking
Hanscom Federal Credit Union2.50% ($15k min), 0.40% ($15k+)Kasasa Cash Checking - Account review
Industrial Bank2.50% (up to $15k), 0.25% ($25k+)Kasasa Cash
Altra Federal Credit Union2.50% (up to $15k), 0.40% ($15k+)A+ Checking
New Buffalo Savings Bank2.27% (up to $15k), 0.2497% ($15k+)Kasasa Cash - Account review
Bellco Credit Union2.25% (up to $25k), 0.25% ($25k+)Boost Interest Checking - Account review
Main Street Bank2.25% (up to $25k), 0.25% ($25k+)Kasasa Cash - Account review
TruStone Financial Credit Union2.02% (up to $20k), 0.10% ($20k+)TruRate Checking - Account review
BankFirst2.02% (up to $10k), 0.15% ($10k+)Kasasa Cash
Finex2.018% (up to $25k), 0.20% ($25k+)Axcess Rewards Checking, Premier Account (formerly First New England Federal Credit Union)
XCEL Federal Credit Union2.01% (up to $25k), 0.03% ($25k+)Kasasa Cash Checking
Bay State Savings Bank2.01% (up to $20k), 0.25% ($20k+)Kasasa Cash - Account review
Legence Bank2.01% (up to $10k), 0.25% ($10k+)Kasasa Cash
Hawaii Pacific Federal Credit Union2.00% (up to $25k), 0.25% ($25k+)Kasasa Cash Checking
5Star Bank2.00% (up to $25k), 0.15% ($25k+)Kasasa Cash Checking Account review
Country Bank2.00% (up to $20k), 0.25% ($20k+)Kasasa Cash Checking Account review
Elements Financial2.00% (up to $20k), 0.10% ($20k+)High Interest Checking - Account review
First Tech Federal Credit Union2.00% (up to $15k), 0.20% ($15k+)Dividend Rewards Checking
Blue Federal Credit Union2.00% (up to $15k), 0.10% ($15k+)Extreme Checking (up to 4% w/account relationships) - Account review
Northwest Federal Credit Union2.00% (up to $15k min)Kasasa Cash - Account review
United Educators Credit Union2.00% (up to $10k), 0.25% ($10k+)Kasasa Cash
KS StateBank1.95% (up to $25k), 0.50% ($25k+)Check PLUS - Account review
Connexus Credit Union1.75% (up to $25k), 0.25% ($25k+)Xtraordinary Checking
Superior Choice Credit Union1.50% (up to $30k)AMP Checking
Marine Federal Credit Union1.26% (up to $10k), 0.05% ($10k+)Kasasa Cash Checking
Axos Bank1.25% (up to $150k), 0.00% ($150k+)Rewards Checking

Certificates of Deposit:

Bank Account Alternatives - NOT FDIC Insured

GM Financial Right Notes2.50% ($50k+), 2.35% ($15k+), 2.25% ($500+)
Duke Energy PremierNotes2.40% ($50k+), 2.25% ($10k+), 2.20% (less than $10k)Duke Energy PremierNotes review
Ford Interest Advantage2.40% ($50k+), 2.25% ($15k+), 2.20% (less than $15k)Ford Interest Advantage review
Vanguard Prime Money Market Fund2.24% 7-day yield
Fidelity Money Market Fund2.04% 7-day yield
Ally Financial Demand Notes1.95% ($50k+), 1.80% ($15k+), 1.60% (less than $15k) (
Vanguard Municipal Money Market Fund1.54% 7-day yield
Fidelity Municipal Money Market Fund1.31% 7-day yield

Post Publication Edits

11/14/2018: MySavings Direct Savings rate raised.
11/14/2018: Discover Bank Money Market and Online Savings rates raised.
11/15/2018: American Express National Bank High Yield Savings rate raised.

Related Pages: savings accounts, money market accounts, reward checking accounts, 1-year CD rates, nationwide deals, Internet banks
John Edwards
John Edwards   |     |   Comment #1
94 days until I get my $1000 bonus from Ally, hopefully by 2/15 rates will be up even more. Go FED!!
deplorable 1
deplorable 1   |     |   Comment #2
I'm actually getting a bit concerned about the recent down market/volatility. While the FED rate hike in Dec. looks good if this recent downtrend continues I do see it having a negative effect for future rate hikes in 2019. Hopefully the economy will remain the driving force next year and the market will bounce back.
Bozo   |     |   Comment #3
Deplorable 1 (re comment #2): Theoretically, at least, the FED ignores the market. Theoretically. If the market presages a recession, all bets are off. We are ever so long in the tooth of this economic recovery. We're due for (pick one) (a) a correction; (b) a bear market; (c) a recession; or, (d) another financial collapse. Whether you pick a, b. c. or d, cash will be king.
Att   |     |   Comment #4
And when the market goes down a great time to by stocks. Like buying on sale
larry   |     |   Comment #8
(Comment #4) Except if the market has a blood bath. Example you buy AAPL here @ $186 and it continues on down to say $150 or maybe lower. Then if it stays there for a long time you are down in your investment and miss out on 5% 60 month CD's coming.
Att   |     |   Comment #10
I'm highly diversified and would say I'm very conservative with a large holdings in cash. So my cash allocation will always be available if CD rates rise further. My CDs are laddered and I recently put some funds in NASA FCU @ 3.25% for 15 months and Connexus 5 year at 4%. As the market goes down I'll be dollar cost averaging in small amounts into mutual funds and do some single stock purchases. Stocks pay dividends too in many cases. Its hard to time markets as well as how high intrest rates go. Will we get to 5% CDs? I think so it who knows. I took advantage of low rates and now have a 3.25% mortgage. That 3.25% is less than the lowest rate muni bond I own. Don't want to debate about paying off the mortgage.
#5 - This comment has been removed for violating our comment policy.
Non Compos Mentis
Non Compos Mentis   |     |   Comment #6
How about (e) none of the above.
Att   |     |   Comment #12
or possibly f ot goes up even more but with some small corrections.
Non Compos Mentis
Non Compos Mentis   |     |   Comment #7
Today it's 25,113.
A year ago it was at 24,309.
5 years ago is was around 15,000
10 years ago it was around 8,000.
20 years ago it was around 9,000.
The DOW goes up 10K in 5 years with marginal GDP growth.
So, don't count on some sort of correlation between the economy and the stock market.
The FED is finally normalizing interest rates and monetary policy.
If reality sets in, it's probably worth around 20,000.
Inflation Hawk
Inflation Hawk   |     |   Comment #9
The trailing 12 month's CPI-U was 2.5%, up from 2.3% in the previous month.
Latest rates relative to this month's inflation figures (CPI-U, non-seasonally adjusted).

Delta Term
-0.150 Savings
0.150 3
0.280 6
0.250 9
0.510 12
0.650 18
0.800 24
1.000 36
1.580 48
1.500 60
0.500 iBond
1.010 TIPS-5Yr
-0.150 Bond 3
0.000 Bond 6
0.230 Bond 12

Only the savings account was changed since the last posting (Quontic's 100K minimum was excluded).
I'm too lazy to change the CD rates more than once a month (unless something changes drastically).
The bottom line is that you can beat trailing inflation with a 3 month CD.
That's how it was in the good old days before the Great Recession of 10 years past.
deplorable 1
deplorable 1   |     |   Comment #11
This is good news. I remember being able to beat inflation by around 3% in a 5-7 year CD back before the housing crisis.
milty   |     |   Comment #13
Today's "We’ve raised interest rates to a level that it’s hurting asset prices," said billionaire investor Ray Dalio, Bridgewater Associates. Guess he would like the Fed to add a 3rd charter to protect Wall Street. Whatever happened to Supply and Demand?
Att   |     |   Comment #14
$13 So the fed really cares what he says?
MDH71   |     |   Comment #15
I received a "You're on track to receive a cash bonus!" email from Ally earlier this afternoon. The email specified the value of my potential cash bonus regarding the promotion Ally was running back in mid October. I guess others that qualified for the bonus got similar emails today or will get them shortly.
RJM   |     |   Comment #16
I removed money from all 3 of my RCAs for the Ally deal. I probably will never use two of them again because 3% is just not enough for $10-15k. The final one, Heritage at 3.35% for $25k is the only one I may keep using after 1/16. A local credit union still only pays 2%. SMH
With savings and money market account rates up to 2.40% APY, it’s hard to get excited about reward checking accounts that earn under 3%, especially when there are small balance caps. Unfortunately, most reward checking accounts have been slow in responding to the rising interest rate environment. As interest rates rise, their appeal as an online savings account alternative has been waning.
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RJM   |     |   Comment #18
Cannot wait for a MUTE function.
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