Gosh It Is Slow

Kaight | Aug 24, 2017 | 1,192 posts since 2011

Things are so slow now where CD deals are concerned. Wake me up after Labor Day. At least I hope things will pick up by then and we get some great CD deals.

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Bozo | Aug 24, 2017 | 1,375 posts since 2011

Kaight, re comment #1, "slow" is an apt description. "Dead" might also apply. I used to joke that banks and credit unions might soon start charging us to safeguard our mattress money. As I've noted in other threads, I'm not too keen on opening new out-of-state CDs (although I've done it in the past, to be sure). Moreover, the whole concept of going out five years or so for roughly 2.5% is unappealing.

Never in my wildest imagination did I ever think a 1.9% 11-month CD would be "good news".

Kaight | Aug 25, 2017 | 1,192 posts since 2011

Ken provides us, his readers, with a great many different services. But foremost of those in my view is tipping us off to "special CD situations", regardless where in the country they might be. It has been a while since any special CD opportunities have surfaced. OK, sure, there was the recent NFCU deal and many of us have taken advantage. But the $10k top on that one was a downer.

The most recent really special deal I can think of was the Andrews 3% deal. And that was last year for goodness sake!! Currently, and this is only JMHO, the two best deals by far are the Bellco 44 month and the Hanscom 4 year deals. I did Bellco while hoping for a December rate increase which might or might not actually happen (if it does I'm in the tall alfalfa). I have not yet done Hanscom but I have been sorely tempted. The 180 day EWP at Hanscom gives pause.

But neither of those deals is particularly great. They are instead merely the best of a stinky lot. And BTW, notice I have not cited any five year deals. The yields are simply not there at five years when you can do very nearly as well at four years and even less time than that.

Bozo | Aug 25, 2017 | 1,375 posts since 2011

Kaight, it all comes back to supply and demand. My wife and I met with our banker (again) yesterday, and she just shook her head when it came to CD rates. Moving right along, we met with a financial planner a half-hour later, and got a similar reaction. The financial planner noted "well, maybe next year it will be better, but who knows?" Bottom line: Banks and credit unions seem to be awash in cash.

As our banker said (many months ago), "you are retail money". It wasn't meant as a put-down, merely a fact.

Jake | Aug 27, 2017 | 14 posts since 2011

What is this 1.9% 11-month CD deal? I can't find it anywhere?

Ricochet | Aug 27, 2017 | 522 posts since 2010

Morgan Stanley. 1.9%, 11 months, brokered CD

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