Interest rates
 

Hi. Just wondering what bank rates people are getting at this time of the year? I'm looking for Savings, Checking and CD's and load rates

Keith

Savings accounts have not been worth anything since the 1980s. These days you may be lucky to get 3% return. Money markets can vary, but it's not much better, sometimes worse.

For credit cards, prime rate has climbed a bit in the past year or so. It was under 5% in 2003-2004, but has risen again several points. Though still under 10%. If your credit card % APR is more than 9-10%, you're getting screwed. Better cards are about 7-8% fixed.

Not sure what home mortgage is, money wise, but it's still at a very low rate, great for re-financing.

Never been a CD man, I prefer mutual funds and outright stocks. Maybe some "safe" commodity funds, but anybody under 50-60 doesn't need to worry about "safe" anyway.

Mortgage rates in most parts of the US are around 2-5%, the only problem is getting a mortgage rate. I have read about 3 or 4 front page articles covering this in major US papers about banks working extra hard to not give people mortages, its amazing but the growing trend is NOT to give people money for almost any reason imaginable. Its also leading to online lenders like ditech picking up the slack. After 2001 mortgage rates plummeted and I think the banks are waiting for them to rise again.

My mom has re-financed twice since 2001 due to the great rates, however she already had a paid mortgage so it was much easier

Savings usually sucks, mine is 5% but it has been opened since 1980 and I rarely have any money in there due its location (Its a Military bank, no military bases in Iowa)

CD's are a nice investement if you have the time and patience, I will see if I can find the website but I know there is one that keeps a listing of the best places

I have refinanced my house twice, and i'm now locked in at 5.5% for 15 yrs. Only about 12 yrs left on it. Your credit will also dpend on your rate as well and also how many times you apply for a rate.
Thankx
Billy