Posted by Jay Fitzpatrick in : Uncategorized ,
Longtime reader and frequent contributor, Thai, was nice enough to email me to inform me that WaMu is offering an astonishing 4.25% APY savings account (unconfirmed). You need $25k minimum to open, and apparently this deal is valid only in local branches.
Dan also mentions that he was able to get a 4.00% APY rate (unconfirmed) [...]
Posted by Hans Thorsen in : Uncategorized ,
These are scary times for the banking industry. A small bank in Florida by the name of First Priority Bank has been shut down by the FDIC.
First Priority Bank with six branches on Florida’s Gulf Coast was closed by state regulators, becoming the eighth US bank to collapse this year amid failed loans [...]
Posted by Jay Fitzpatrick in : Uncategorized ,
Although the Federal Discount Rate has remained unchanged at 2.00% for the last 3 months, banks have been steadily raising certificate of deposit rates. According to Bankrate data, national 1 year CDs are inching toward 3.30% and 5 year jumbo CDs have gained above 4.20%.
Why banks are offering increasingly attractive rates.
Futures traders are predicting [...]