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Rumors Fly Over A Key Interest Rate For Banks

Posted by: RateAPY Bank Rates News
March 19th, 2010

The stock market fell in response to rumors that the Federal Reserve might raise the discount interest rate today (the discount interest rate is the fee banks pay when they borrow money from the Federal Reserve). The Feds raised the discount interest rate last month from 0.500% to 0.750%, sending a signal to the market ... Read more »

The FOMC Leaves Interest Rates Unchanged, Again

Posted by: RateAPY Bank Rates News
March 17th, 2010

The FOMC met today to discuss U.S. monetary policy. As expected, they decided to leave their main interest rate, the Fed Funds Target Rate, unchanged. The current target of 0.000%-0.250% has been in place over a year in order to stimulate the struggling U.S. economy.
Interest Rates Still Low for ... Read more »

High interest Savings Making a Comeback

Posted by: RateAPY Bank Rates News
March 9th, 2010

If you are tired of your savings account paying very little, hang in there, good news is coming soon. Interest rates on everything from your savings account to your money market and CD should be paying more than they are today by the end of the year.
According to most economists, the Federal Reserve will need ... Read more »

Stock Investments Suffer On Concerns About Greece And Unemployment

Posted by: RateAPY Bank Rates News
February 25th, 2010

Federal Reserve Chairman Ben Bernanke continued his Congressional testimony today before the Senate Banking Committee. Stock investments fell dramatically as the testimony began to cover what could be serious issues with U.S. banks’ involvement with credit default swaps sold to Greece. Goldman Sachs and other companies may have used creative derivatives to help Greece hide ... Read more »

Interest Rates Likely to Be Impacted by Economic News

Posted by: RateAPY Bank Rates News
February 23rd, 2010

The Feds have started to raise interest rates and much of the stimulus used to boost the economy is coming to an end. Interest rates on everything from mortgages to certificates of deposit will likely go up.
Economic Questions as Stimulus Programs End
The Case-Shiller 20 ... Read more »

How the Federal Budget Deficit May Impact Your Savings Account

Posted by: RateAPY Bank Rates News
February 9th, 2010

Americans have been paying down their debts at an accelerated rate since mid-2008. They have also been increasing their personal savings. Meanwhile, the U.S. government has been going into debt at an accelerated rate. The net savings rate in the U.S. is now negative for the first time since the Great Depression.
According to, “Protecting Yourself ... Read more »

Bank Interest Rates May Change After Bernanke Speaks

Posted by: RateAPY Bank Rates News
February 8th, 2010

Bank interest rates on everything from your certificates of deposit, savings accounts, money market accounts, and mortgages could be affected by what Federal Reserve Chairman Ben Bernanke has to say to Congress on February 10.
Congress has long been pressuring Bernanke to disclose a plan ... Read more »

Mortgage Rates Are Down for the Fourth Straight Week

Posted by: RateAPY Bank Rates News
January 29th, 2010

Refinancing just keeps getting better and better! Mortgage rates are down again, making it four consecutive weeks of improvement. Mortgage rates for a 30-year fixed, comforming home loan have stayed below 5% for the second straight week.
According to the Freddie Mac Primary Mortgage Market Survey (PMMS), the following are the ... Read more »

FOMC Leaves Interest Rates Unchanged though Hoenig Dissents

Posted by: RateAPY Bank Rates News
January 27th, 2010

When it comes to the Federal Open Market Committee (FOMC), which is the Federal Reserve’s committee on interest rates, sometimes it may be what is implied that matters. Today, the FOMC left its key interest rate, the fed funds rate, at 0.000%-0.250%. The statement that interest rates should remain low for an “extended period” also ... Read more »

How Politics May Affect Credit Card Rates

Posted by: RateAPY Bank Rates News
January 26th, 2010

It seems like the interest rates that you pay of your credit cards should be far removed from what goes on in Congress, right? There may be a few degrees of separation, but ultimately politics may have some effect on the interest rates on your credit cards. Here is an example of one possible effect:
... Read more »