RateAPY

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 to start raising interest rates by the end of 2010. Yields on your savings accounts have been extraordinarily low for a long time. This is because the Federal Reserve has kept interest rates low to stimulate the economy. But these unusually low interest rates are less necessary as the economy rebounds.

Compare what the best banks are offering on savings accounts, money market accounts, and certificates of deposit. Keeping your money liquid for the present, with the expectation that longer term investments will pay more towards the end of the years, makes financial sense.