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CD Rates Summary August 16, 2016

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CD Rates Summary August 16, 2016

Economic data released this week has slightly lowered the chance of a Fed rate hike in September. The latest data is the consumer-price index that was released today. Inflation as measured by the CPI remains low. According to this Wall Street Journal article:

The easing of inflation pressures seen in the consumer-price index, along with weak economic-output readings for the first half of the year, reinforces the argument of some officials to wait on a rate increase.

On the other hand, Fed officials are giving hints that a September rate hike is possible. Bloomberg described what New York Fed President William Dudley said about rate hikes in a Tuesday interview:

“We’re edging closer towards the point in time where it will be appropriate, I think, to raise interest rates further,” Dudley, who serves as vice chairman of the rate-setting Federal Open Market Committee, said Tuesday on Fox Business Network. Asked whether the FOMC could vote to raise the benchmark rate at its next meeting Sept. 20-21, Dudley said, “I think it’s possible.”

We may see a few clues on Wednesday about what to expect in September with the release of minutes of the Fed’s July 26-27 meeting.

The Fed funds future contracts continue to show a poor chance of a September rate hike. The implied probability remains the same as last week (18%). On the positive side, the implied probability for a December rate hike has gone up from 43% to 55%. Most Treasury yields have gone up from last week. The following numbers are based on Daily Treasury Yield Curve Rates and the CME Group FedWatch.

Treasury Yields:

  • 1-month: 0.27% same as last week
  • 6-month: 0.45% up from 0.44% last week
  • 2--year: 0.76% up from 0.71% last week
  • 5--year: 1.16% up from 1.11% last week
  • 10-year: 1.57% up from 1.55% last week
  • 30-year: 2.29% up from 2.25% last week

Fed funds futures' probability of at least one additional rate hike by:

  • Sep 2016: 18% same as last week
  • Dec 2016: 55% up from 43% last week
  • Feb 2017: 57% up from 45% last week

Certificate of Deposit Rates

Another one of the big internet banks cut their 5-year CD rate to below 2.00%. Synchrony lowered its 5-year CD APY from 2.05% to 1.85%. The highest 5-year CD rate from an internet bank is now 2.00% APY. That’s from Colorado Federal Savings Bank.

The only other bank on the 5-year list of nationally available CDs is State Bank of India (IL). This is the Chicago branch of State Bank of India which is classified as a U.S. branch of a foreign bank. The New York branch also offers nationally available CDs, but the rate on its 5-year CD has recently gone down. The Chicago branch now has the best rate (2.27% APY). It also has another advantage. Its early withdrawal penalty is 180 days of interest (disclosure) which is less than the EWP at the New York branch (270 days of interest). Both branches are FDIC-insured banks with separate certificate numbers. However, they do not receive separate FDIC insurance coverage.

Most of the CDs on the nationally available 5-year list are credit unions with easy membership requirements. One of the credit unions that has a long history of being a rate leader is Melrose Credit Union. It currently has the top rate for a CD without a large minimum deposit. However, readers should be aware that it has financial problems due to its exposure to the New York taxi industry which has been hurt by Uber and Lyft. The Credit Union Times just reported the news that the NCUA is now considering Melrose to be undercapitalized.

Credit unions and banks have been more willing to come out with shorter-term CD specials. A couple of the notable ones include the 2.00% APY special 20-month CD at Navy Federal ($20K max) and the 1.60% APY 15-month Jumbo CD at Veridian Credit Union.

Finally, here’s my usual note about long-term CDs with mild early withdrawal penalties.

An alternative to short-term CDs is long-term CDs that have mild early withdrawal penalties. I include the effective yields of a few 5-year CDs when closed early in the tables below. All of these have competitive 5-year CD rates and an early withdrawal penalty of 6 months of interest or less. The combination of a high 5-year CD rate combined with a mild early withdrawal penalty makes these CDs pretty good deals even when closed early. If you want to compare the effective yields of other CDs after the early withdrawal penalties, please refer to our CD early withdrawal penalty calculator.

The risks of planning for early withdrawals of long-term CDs were highlighted by the deposit agreement change at Ally. The risks have also been seen at credit unions which have raised the early withdrawal penalties on existing CDs. I have more details in this blog post.

Savings & Checking Account Rates

In the past I’ve covered savings and checking account rate changes in another weekly summary post. Each week I would publish one post with a recap of savings and checking account rate changes and another post with a recap of CD rate changes. Since there aren’t a lot of rate changes, I’m now alternating these posts. This week I’ll just publish this CD summary. Next week I’ll just publish the savings/checking summary. For both summaries I’ll include the same economic overview. You can always get the latest rates for savings/checking accounts and CDs by using our rate tables. Just use the menu on top.

Here’s the link to last week’s savings/checking recap.

Yields Accurate as of August 16, 2016

Under 1-Year CD Rates

Quorum Federal Credit Union1.40% 10-month Term Account See review
The Palladian PrivateBank1.30% Savings Account promo 6-month rate ($10K min/$500K max)See review
Dime Savings Bank1.10% Dime Direct Money Market (1 year rate guarantee) See review
Northeast Bank1.10% Pearl Money Market Promo (6-month rate guarantee) See review
SafeAmerica Credit Union1.06% 6-month CD Special Easy membership See review
MySavingsDirect1.05% 6-month My Term CD

Noteworthy Local Deals - Under 1-Year CDs

NorthStar Credit Union5.00% 5-month CD Special ($5k max)DuPage County, IL See review
Village Credit Union2.00% ($25k) Special Rate 9-month CD8 central Iowa counties See review
First Green Bank1.50% ($100k) Money Market 6-month rate guaranteeLake, Orange, and Volusia Counties, FL See review
Pacific Alliance Bank1.28% ($25k) Super Savings 2-year rate guaranteeSouthern California See review
Popular Community Bank1.26% Optimum Money Market Special (6-month rate guarantee)New York, possibly Northern New Jersey See review
Sterling Bank & Trust1.25% MMA Promo (6-month rate guarantee)Southern California See review
Mercantil Commercebank, N.A.1.20% 10-month Smart CD ($10k min)South Florida, NYC, and Houston, Texas area See review
Synergy Bank, SSB1.20% 10-month CD Special ($10k min)Dallas/Fort Worth area
University of Iowa Community Credit Union1.20% ($250k), 1.20% ($100k), 1.00% ($1k) 7-month CD Special48 Iowa counties, 4 Illinois counties See review
Capital One Bank1.10% Essential Savings 6-month guaranteeCT, DC, DE, LA, MD, NJ, NY, TX, and VA See review
LOMTO Federal Credit Union1.10% 6-month CDParts of New York City
EastBank, N.A.1.10% 9-month CDNYC metro area See review
Oritani Bank1.05% 9-month Loyalty CDNorthern New Jersey

1-Year CD Rates

SafeAmerica Credit Union1.40% 14-month CD Special Easy membership See review
Live Oak Bank1.30% 1-year CDInternet bank See review
Community Choice Credit Union (MI)1.27% 11-month CD Special Easy membership See review
Melrose Credit Union1.26% 1-year Share Certificate
E-LOAN.com1.26% ($10k) 1-year CD
Colorado Federal Savings Bank1.25% 1-year CDInternet bank
iGObanking1.25% 12-month iGOCD
Sallie Mae Bank1.25% 12-month CD
Synchrony Bank1.25% 12-month CD
Quorum Federal Credit Union1.25% 13-month Term Savings CD Easy membership See review
INOVA Federal Credit Union1.25% 14-month CD Easy membership See review

Noteworthy Local Deals - 1-Year CDs

AmeriCU1.55% ($100k) 12-month Jumbo Partner Certificate9 Upstate New York Counties See review
General Electric Credit Union1.55% ($100k) 1-year Jumbo CDSouthwest Ohio
Freedom Federal Credit Union1.50% 52-week Jumbo Certificate ($25k)Harford County, Maryland See review
Idaho Central Credit Union1.50% 12-month Promo CDIdaho
Village Credit Union1.50% ($10k) Special Rate 13-month CD8 central Iowa counties See review
Pioneer Federal Credit Union1.50% 13-month CD Special13 southwestern Idaho counties
We Florida Financial1.46% ($10k) 1-year Jumbo IRA Certificate46 Florida counties See review
AmeriCU1.45% 12-23 month Partner Certificate9 Upstate New York Counties See review
TEXAR Federal Credit Union1.45% 12-month Online Share Certificate4 Texas and 1 Arkansas counties See review
South Shore Bank1.40% 14-month Rewards CDMassachusetts
Bank of the Ozarks1.36% 13-month CD Special 9 Dallas-Fort Worth branches See review
TEXAR Federal Credit Union1.35% 12-month Share Certificate4 Texas and 1 Arkansas counties See review
American Eagle Bank of Chicago1.35% SUPER Saver 13-month Add-On CD SpecialChicago metro area

18-month CD Rates

Navy Federal Credit Union2.00% ($20k max) 20-month CertificateLimited membership, military relationship
Veridian Credit Union1.60% 15-month Jumbo CD ($100k)Easy membership See review
State Bank of India (IL)1.52% (2.27% 5-year CD closed after 18 months)
USALLIANCE Financial1.51% 15-month CD Special ($100k max)Easy membership
Veridian Credit Union1.50% 15-month CD SpecialEasy membership See review
Lake Michigan Credit Union1.40% 18-month CD SpecialEasy membership
Pacific National Bank1.37% 18-month CDInternetSee review
EBSB Direct1.35% 16-month EBSB CDInternet bank See review
Quorum Federal Credit Union1.35% 17-month Term Savings CD Easy membership See review
Live Oak Bank1.35% 18-month CDInternet bank See review
E-LOAN.com1.35% ($10K) 18-month CD
Elements Financial1.35% (2.01% 5-year CD closed after 18 months)Easy membership
Colorado Federal Savings Bank1.34% (2.00% 5-year CD closed after 18 months)

Noteworthy Local Deals - 18-Month CDs

Collins Community Credit Union2.01% ($250k), 1.96% ($100k), 1.91% APY ($50k) 19-month CD Special 38 eastern Iowa counties See review
Premier Credit Union2.00% 20-month Certificate Special8 Iowa counties See review
Horizon Credit Union1.71% 18-month Special CD (w/checking)Washington,8 Idaho and 14 Montana counties See review
Cedar Falls Community Credit Union1.70% 15-month Jumbo Certificate7 Iowa counties See review
University of Iowa Community Credit Union1.70% ($250k), 1.60% ($100k), 1.50% ($1k) 17-month CD Special48 Iowa counties, 4 Illinois counties See review
Lincoln 1st Bank1.65% 18-month Variable Rate CDNorthern New Jersey See review
First Trust & Savings Bank of Albany, Illinois1.60% 16-month CD SpecialRock Island and Whiteside Counties, IL See review
Farmers State Bank1.57% 15-month CD3 NE Iowa counties
Cedar Falls Community Credit Union1.55% 15-month Special Share Certificate7 Iowa counties See review
Warsaw Federal1.52% 18-month CDCincinnnati, Ohio See review
BenchMark Bank1.50% 15-month CDColumbus, Ohio area See review
Sunmark Federal Credit Union1.50% 18-month CDCapital Region, Upstate New York
Walpole Co-operative Bank1.50% 20-month CD SpecialWalpole, Massachusetts area See review

2-Year CD Rates

State Bank of India (IL)1.71% (2.27% 5-year CD closed after 2 years)
Veridian Credit Union1.65% 25-month Jumbo CD ($100k min)Easy membership
Veridian Credit Union1.55% 25-month Special CDEasy membership
XCEL Federal Credit Union1.51% (2.00% 60-month CD closed after 2 years)Easy membership
Colorado Federal Savings Bank1.51% (2.00% 5-year CD closed after 2 years)
Elements Financial1.51% (2.01% 5-year CD closed after 2 years)Easy membership
Quorum Federal Credit Union1.50% 24-month Term Savings Account See review
Service Credit Union1.50% 27-month Certificate SpecialSee review - Limited membership
Live Oak Bank1.45% 2-year CDInternet bank See review
Colorado Savings Bank1.45% 2-year CD

Noteworthy Local Deals - 2-Year CDs

Farmers State Bank1.80% 19-month CD3 NE Iowa counties
BenchMark Bank1.75% 2-year CDColumbus, Ohio area See review
Manatee Community Federal Credit Union1.75% ($10k) 24-month CD Manatee County, Florida See review
Idaho Central Credit Union1.75% 24-month Promo CDIdaho
Pioneer Federal Credit Union1.75% 25-month CD Special13 southwestern Idaho counties
Cedar Falls Community Credit Union1.60% 25-month Special Share Certificate7 Iowa counties See review
University of Kentucky Federal Credit Union1.60% ($100k) 2-year Jumbo CDU of KY relationship, greater Lexington area See review
University of Kentucky Federal Credit Union1.55% 2-year CDU of KY relationship, greater Lexington area See review
FivePoint Credit Union1.51% 24-month Share Certificate Special5 Texas counties See review
The First National Bank of Santa Fe1.51% 25-month Promo CDNew Mexico and Colorado See review
First Federal Credit Union1.50% 25-month CD SpecialLinn County, Iowa See review
Green Bank, N.A.1.50% 29-month CD SpecialAustin, Dallas, and Houston, TX; Lousiville, KY See review

3-Year CD Rates

State Bank of India (IL)1.91% (2.27% 5-year CD closed after 3 years)
Hughes Federal Credit Union1.87% ($99k), 1.76% ($50k), 1.66% ($1k) 36-month CDEasy membership
RTN Federal Credit Union1.85% 37-month CD SpecialEasy membership See review
Connexus Credit Union1.75% 3-year CD w/active chk
SafeAmerica Credit Union1.71% 30-month CD Special Easy membership See review
USALLIANCE Financial1.71% 35-month CD SpecialEasy membership
Veridian Credit Union1.70% 39-month Jumbo CD ($100k)Easy membership See review
Elements Financial1.69% (2.01% 5-year CD closed after 3 years)Easy membership
XCEL Federal Credit Union1.68% (2.00% 60-month CD closed after 3 years)Easy membership
Colorado Federal Savings Bank1.68% (2.00% 5-year CD closed after 3 years)
Melrose Credit Union1.66% 3-year Share Certificate
Velocity Credit Union1.61% 33-month Step-Up IRA CertificateEasy membership See review
Veridian Credit Union1.60% 39-month Special CDEasy membership See review

Noteworthy Local Deals - 3-Year CDs

San Patricio County Teachers Federal Credit Union2.25% 3-year CDSan Patricio County, TX See review
CFCU Community Credit Union2.10% ($100k), 1.75% ($25k), 1.50% ($10k) 33-month Celebration Certificate Special Tompkins and Cortland Counties, NY See review
1st Gateway Credit Union2.05% 40-month CD SpecialEastern Iowa, Western Illinois
Community Financial Services Bank2.02% 33-month CD Special KY, IN, IL, MO, and TN See review
Collins Community Credit Union2.17% ($250k), 2.12% ($100k), 2.06% APY ($50k), 2.01% ($10k) 30-month CD Special38 eastern Iowa counties
VITAL Federal Credit Union2.01% 36-month CDSpartanburg County, South Carolina See review
Vibrant Credit Union2.00% 33-month CD SpecialIowa, Illinois Quad Cities area
Gulf Coast Credit Union1.95% 36-month Share CertificateJim, Nueces, and San Patricio Counties, TX

4-Year CD Rates

Melrose Credit Union2.02% 4-year CD
Bay State Savings Bank2.00% 48-month CD
NASA Federal Credit Union2.00% 49-month CD Special
State Bank of India (IL)2.00% (2.27% 5-year CD closed after 4 years)
SelfHelp Credit Union1.81% 48-month CD
Elements Financial1.77% (2.01% 5-year CD closed after 4 years)Easy membership
Colorado Federal Savings Bank1.76% (2.00% 5-year CD closed after 4 years)
XCEL Federal Credit Union1.76% (2.00% 60-month CD closed after 4 years)Easy membership
CIT Bank1.75% ($100k), 1.65% ($1k), 4-year CD
American Heritage Federal Credit Union1.72% 47-month Bump-Up CDEasy membership See review
Alliant Credit Union1.70% ($25k), 1.65% ($1k) 48-month CD

Noteworthy Local Deals - 4-Year CDs

Institution for Savings2.50% ($250k) 4-year Money Market CD (also requires $250K in MMA)Parts of Massachusetts
Deere Employees Credit Union2.30% 48-month Share CertificateEmployees and retirees of Deere & Company See review
Pelican State Credit Union2.19% 48-month CDRapides Parish, Louisiana
Jefferson Financial Credit Union2.17% ($10k) 48-month Share CertificateJefferson Parish, LA
Beaumont Community Credit Union2.12% 48-month Share CertificateJefferson County, TX
Security Savings Bank2.06% 48-month CDTri-state area of SD, IA, and MN
Member One Credit Union2.05% 48-month CDVirginia
Founders Federal Credit Union2.02% 48-month Share CertificateSouth Carolina
Red Rocks Credit Union2.02% 48-month Share CertificateColorado
Perpetual Savings Bank2.01% 48-month CDOhio See review
Alliance Credit Union2.00% 48-month Share Certificate3 California and 3 North Carolina counties
Federal Employees Credit Union2.00% ($100k) 48-month CDFederal employees and retirees See review for limitations

5-Year CD Rates

Northwest Federal Credit Union2.47% ($250k) 5-year Share Certificate (w/bonus points)Easy membership requirements See review
Melrose Credit Union2.32% 5-year CD
Mountain America Credit Union2.30% 60-month CD
State Bank of India (IL)2.27% 5-year CD
Signal Financial Credit Union2.16% 60-month Share CertificateEasy membership requirements See review
Fort Knox Federal Credit Union2.10% 59-month CD SpecialEasy membership
RiverLand Federal Credit Union2.10% 60-month CertificateEasy membership requirements See review
Wings Financial Credit Union2.07% ($90k) 2.02% ($10k) 5-year Share CertificateSee review
AgFed Credit Union2.05% 60-month Share CertificateSee review
Elements Financial2.01% 5-year CDEasy membership
XCEL Federal Credit Union2.00% 60-month CDEasy membership
Colorado Federal Savings Bank2.00% 5-year CD
The Vanguard Group Brokered CD1.60% 5-year non-callable CDIssued by Capital One Bank

Noteworthy Local Deals - 5-Year CDs

General Electric Credit Union2.75% 5-year CDSouthwest Ohio
Deere Employees Credit Union2.65% 60-month Share CertificateEmployees and retirees of Deere & Company See review
IH Mississippi Valley Credit Union2.63% 60-month CD Quad Cities area, IL and IA
Bank of Utica2.50% 5-year CDUtica, NY area
Northwoods Credit Union2.42% ($100k+) 60-month Certificate Carlton, Pine, and St. Louis Counties, MN See review
American United Federal Credit Union2.40% 60-month CD (includes 0.10% rate increase)Salt Lake and Tooele Counties, Utah See review
Collins Community Credit Union2.37% ($250k), 2.32% ($100k), 2.27% APY ($50k) 62-month CD Special38 eastern Iowa counties
Granite Credit Union2.32% 60-month CertificateSalt Lake County, Utah See review
University Federal Credit Union2.30% 60-month CDSalt Lake County, Utah See review
Founders Federal Credit Union2.27% 60-month Share CertificateSouth Carolina
Community Financial Services Bank2.27% 66-month CD Special KY, IN, IL, MO, and TN See review
Space City Credit Union2.26% 5-year Certificate SpecialHouston, TX See review
Educational Systems Federal Credit Union2.25% 60-month Jumbo Star Member CDMaryland

Over 5-Year CD Rates

Andrews Federal Credit Union3.00% 84-month IRA Certificate See review
Apple Federal Credit Union2.60% 120-month CD
Discover Bank2.30% 10-year CD
Elements Financial2.25% 10-year CDEasy membership
Apple Federal Credit Union2.25% 84-month CD
Navy Federal Credit Union2.15% ($100k), 2.10% ($20k), 2.05% ($1k) 7-year CDLimited membership
Northrop Grumman Federal Credit Union2.14% ($40k min) 84-month Bonus Term CDEasy membership
Elements Financial2.10% 7-year CDEasy membership
Navy Federal Credit Union2.10% ($100k), 2.05% ($20k), 2.00% ($1k) 6-year CDLimited membership
The Vanguard Group Brokered CD2.05% 10-year non-callable CDIssued by Discover Bank
The Vanguard Group Brokered CD1.80% 7-year non-callable CDIssued by Discover Bank

Noteworthy Local Deals - Over 5-year CDs

Sharefax Credit Union2.68% ($15k) 80-month Gold Share CertificateSouthwestern Ohio
Financial Center First Credit Union2.50% 84-month Share Certificate10 central Indiana Counties (greater Indianapolis)
Fairfax County Federal Credit Union2.30% ($100k) 72-month Share CertificateFairfax County, VA See review
San Antonio Federal Credit Union2.30% 10-year CDSan Antonio, TX
First National Bank (PA)2.25% 10-year CD Special ($10k)PA, MD, OH, WV
MidFirst Direct2.25% 10-year CDAR, AZ, CA, FL, MO, NH, NV, NY, OK, TX, and WY
Gesa Credit Union2.20% 7-year CDWashington State
Ent Credit Union2.10% 84-month Certificate9 Colorado counties See review
Indiana Members Credit Union2.02% 84-month CD17 central Indiana counties
PeoplesChoice Credit Union2.02% 84-month CDYork and Cumberland Counties, Maine

CDs Removed Due To Low Rates Or Expired Specials

CDs Removed, No Longer Available - Nationwide

None

CDs Removed, No Longer Available - Local

Red River Credit Union1.51% 15-month Summer Special CD13 Texas and 11 Arkansas counties See review
ConnectOne Bank1.50% 15-month CDNorthern NJ and NYC See review
Dupaco Community Credit Union1.75% 25-month Term Share Certificate Special33 Iowa, 5 Illinois, and 4 Wisconsin counties

CDs Removed, Rate Too Low - National

First Internet Bank1.31% 18-month CDInternet bank See review
Nationwide Bank1.61% ($100k), 1.56% ($500) 4-year CD
Synchrony Bank1.85% ($25K), 1.80% ($2K) 5-year CD
KS StateBank1.95% 5-year Online CDSee review
Kinecta Federal Credit Union1.80% ($100k) 5-Year Jumbo CDEasy membership requirements See review
Latino Credit Union1.90% 60-month Share Term CertificateEasy membership requirements See review

CDs Removed, Rate Too Low - Local

Spokane Teachers Credit Union1.66% 30-month Premium CDWashington State, 8 northern Idaho counties See review
Everett Co-operative Bank2.00% 60-month CDMassachusetts See review
Savings Bank of Danbury1.00% 15-month Bump Up CDWestern Connecticut See review

Post Publication Edits

8/17/16: Mercantil Commercebank, N.A.10-month Smart CD added.

8/18/16: Dupaco Community Credit Union 25-month Term Share Certificate Special no longer available.

8/19/16: Savings Bank of Danbury 15-month Bump Up CD removed following rate drop.

8/19/16: Latino Credit Union 60-month Share Term Certificate removed following rate drop.

8/19/16: First Trust & Savings Bank of Albany, Illinois 16-month CD Special added.

Comments
Anonymous
Anonymous   |     |   Comment #1
Here we go again. More talk about a possible rate hike.
Anonymous
Anonymous   |     |   Comment #2
According to Yellen talking points, the rate raise is conditional to "hundreds" of variables, including the central bank of Albania being able to sustain the raise of the dollar. If any other central bank around the globe complain, there goes the rate raise. Those conditions are put there on purpose to have an excuse NOT to raise the rate now.
They will wait until the national debt reaches 150% of GDP (now is 122% of GDP) and then they will sucker in the savers with teaser rates raises without telling us that the foreign banks have stopped buying the treasuries and the hidden inflation is over 10%.
#7 - This comment has been removed for violating our comment policy.
#8 - This comment has been removed for violating our comment policy.
alan1
alan1   |     |   Comment #3
The article correctly states that the early withdrawal penalty on the 5-year CD at State Bank of India (IL) is 180 days. However, it does not mention the following portion of the disclosure statement:
"Early Withdrawal Penalty: The principal amount of deposit cannot usually be withdrawn before the Certificate of Deposit matures, unless the Bank consents to the withdrawal as a special case."

https://www.sbichicago.com/assets/files/v3LZl2RU/2015/06/16/Account_Disclosures.pdf at p. 3
.
Anonymous
Anonymous   |     |   Comment #4
Yellen's Fed will preside over only one rate rise under her entire chairmanship. That occurred on Dec 16, 2015 when they approved a mere quarter-point increase in its target funds rate. The remainder of her term will be marked by economic uncertainty and no further action, other than a possible cut in rates by the same quarter-point to counter weakness down the road. The markets continue to be the beneficiary as they go higher into record territory while CD yields dribble downward.
#5 - This comment has been removed for violating our comment policy.
dale26s
dale26s   |     |   Comment #9
Melrose also has a stiff EWP
Ed
Ed (anonymous)   |     |   Comment #10
Low or negative interest rates is an attempt by the Fed to force ppl's hard earned money into the stock market casino in search for yield.
No need for FDIC. If the next market crash occurs, the talking head from Wall Street and their paid media will conveniently blame the public for their ignorance for not understanding market risks. They can force yields to zero or negative for all I care....I will not be coerced into buying an overpriced market pumped up by the Fed and their investment banks, becaue a crash will come.
Anonymous
Anonymous   |     |   Comment #11
I'm in total agreement with you on that!  And it will happen. 
Anonymous
Anonymous   |     |   Comment #12
Yep, Yellen looks at hundreds of variables and if just one is bad, they are like "oh my", we can't raise them now.  All hundred have to be what she wants.  They have rigged it that way. 
Anonymous
Anonymous   |     |   Comment #13
I want no further articles on what the Fed is going to do. I'm sick of it. They will never raise rates and it's a waste of time to talk about it. Delete this article......Now.
Anonymous
Anonymous   |     |   Comment #17
What you want and what you get can be very different. 

Most of us here want higher interest paid on our deposit accounts.  However, we aren't getting what we want either.
#14 - This comment has been removed for violating our comment policy.
#15 - This comment has been removed for violating our comment policy.
Bozo
Bozo   |     |   Comment #16
The trick with any CD is to compare it to an equivalent bond fund. Your garden-variety intermediate term bond fund should be compared to the best available 5-yr CD. Then, apply a bit of discount for NCUA/FDIC insurance, and no interest-rate risk. Five-year insured CDs are certainly worth a look.
Anonymous
Anonymous   |     |   Comment #18
Everybody is waiting to see what Jacksons Hole will look like this week.
Anonymous
Anonymous   |     |   Comment #19
Would it be risky to bite on Northwest FCU's 5 year 2.47%APY offer on $250,000 or more before the Fed's September and December FOMC meetings?

Alan Greenspan thinks rates may really be ready to spike.
Anonymous
Anonymous   |     |   Comment #20
Greenspan used the term stagflation when he really should have said recession. Sounds like election year nonsense.
Anonymous
Anonymous   |     |   Comment #21
The significant question relative to my concerns lies in supposing that Greenspan is right (for a change) and we have continued stagnation (or recession) coupled with considerably higher inflation.  What would the Fed's response be to such a circumstance?  Higher rates or more easing?  Some other alternative?
Anonymous
Anonymous   |     |   Comment #22
We will find out soon in Jacksons Hole.
Anonymous
Anonymous   |     |   Comment #23
Given that the economy isn't presently in a condition of "stagflation" we won't likely find out anything about what the Fed's possible response to such a turn of events might be.
Anonymous
Anonymous   |     |   Comment #24
Exactly. Evan with all of the fake talk about a possible rate increase by FED officials, nobody believes it as evidenced by the bond market.
Anonymous
Anonymous   |     |   Comment #25
What exactly do you mean by "fake" talk?  Are you suggesting the Fed has a calculated plan never to raise the Federal Funds rate but for Yellen and all the Governors to speak contrarily as if they soon might?  Why would they do that?

Isn't it far more likely they're truly uncertain and indecisive about it, and their talk reflects that?
Anonymous
Anonymous   |     |   Comment #27
I have posted before that we started to emulate Japan in the 80's. Everyone was so afraid that they were going to surpass us.  Well it looks like in many ways we are in the same boat now  as Japan only much stronger. After this "great recession" we are still in better shape than most countries. Sometimes slow and steady is much better than boom and bust.