The upheaval in the banking world means it’s time to shop. The stronger, remaining banks are aggressively trying to capture new market share. That means that many banks are running specials to attract your business. Even if you have had your money on deposit with the same bank for many years, you should consider looking at other banks to see what could be available for you.

Shop for the best interest rates on savings accounts, money market accounts, and certificates of deposit today.

Savings rates have increased among Americans since the recession began and more families recognized the importance of maintaining an emergency fund to meet unexpected expenses. One of the best ways to make sure your money is safe while earning interest is a savings account.

These days, consumers can search online to find the best interest rates and compare savings account terms instead of being restricted to their local bank.

Zions Bank offers an Internet Savings Account, exclusively available online, with an interest rate of 1.150% and an APY of 1.16%. The account requires an opening balance of $100. The quoted interest rate is earned on balances from $1,000 to $250,000 or more.

The Zions Bank Internet Savings Account is FDIC insured and customers are not charged a monthly maintenance fee. Customers can make unlimited withdrawals in person, at an ATM, by mail or by messenger. Up to six transfers can be made within a 30-day period.

By paying attention to Fed Funds Futures, you can predict where interest rates on everything from mortgages to savings accounts and money market accounts may be headed. When you deposit your money into a savings account or money market account, you are making the bank a loan. The bank is only going to pay you the going rate. A bank will not pay you more to borrower your money than it would pay another bank based on the Fed Funds Rate.

It’s good to hear so many economists agreeing that interest rates are likely to rise later this year. At last savers may get a worthwhile return on their investments.

But that news may put you off tying up your money at today’s low interest rates. And you may well wish to keep your money as liquid as possible. Well, there’s nothing (other than your mattress) more liquid than a high interest savings account.

“Best Savings Account” from Ally

A few months ago, Kiplinger named the Ally online savings account its “Best Savings Account”. And you can see why. Not only is it currently paying 1.3 percent APY, but it also has some singularly attractive features. The bank’s web site lists some of them, including:

• Open with $0
• No minimum balance
• No monthly fees
• Daily compounded interest for maximum earnings
• FDIC insured
• Six transactions per statement cycle with no fees

Always Compare Savings Account Rates

But nobody should commit to any savings or investment deal without first researching the market. So compare savings account rates now.

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.

Many Americans choose a money market account as the best place to keep their money safe while earning interest. Money market accounts can be a great vehicle for emergency funds since you can keep this cash separate from your day-to-day fund yet retain immediate access.

EverBank’s Yield Pledge Money Market Account promises customers to keep their interest rate in the top 5% of competitive accounts. In addition, this account offers a three-month bonus rate of 2.25% for new customers. During the first-year of the account, depositors will earn 1.51% on accounts with less than $50,000. Consumers with larger amounts on deposit will earn 1.25% APY.

The EverBank Yield Pledge Money Market Account requires a minimum opening deposit of $1,500, with no-fee online and mobile banking. All accounts are FDIC-insured and allow up to six withdrawals per month without a fee.

Comparing money market accounts online can help you find the best bank deals and terms.

Twice a year the National Association of Business Economists (NABE) conducts an Economic Policy Survey. In the most recent survey, taken in February of this year, 135 of the 203 members polled believe that the Federal Reserve’s monetary policy is correct for the moment. A majority of the members believe that interest rates should move higher in the next several months. Among the analysts who reviewed the survey are distinguished members from Fannie Mae and the Mortgage Bankers Association.

Bank CD Rates Expected to Rise

When the Feds begin to raise interest rates, it should have a positive effect for the yields on deposit accounts such as savings accounts, money market accounts, or certificates of deposit. Bank CD rates should go up along with any interest rate moves by the Fed.

You can keep abreast of the latest rates by investigating the highest current yields on savings accounts, money market accounts, and certificates of deposit.

It’s never easy deciding on a new certificate of deposit just by comparing terms. Those high CD rates that come with a long-term investment are tempting. But suppose interest rates in general suddenly shoot up, and you’re left with your money languishing for years to come earning today’s modest yields?

Patriot Bank’s “Certificate of Deposit Test”

Help for that dilemma is at hand. There’s a link on Patriot Bank’s certificate of deposit Web page to an online “one minute certificate of deposit test.” The test takes you through a series of key questions designed to help you, the CD investor, make an informed decision that meets your individual goals.

Once you assess your needs, be sure to compare CD rates across a wide range of banks. One choice is Patriot Bank’s current offering of 3.5% APY on a 60-month CD for any balance between $1,000, and $100,000.

• 3/04/10 - 4.97% with 0.7% points
• 2/25/10 - 5.05% with 0.7% points
• 2/18/10 - 4.93% with 0.7% points
• 2/11/10 - 4.97% with 0.7% points
• 2/04/10 - 5.01% with 0.7% points
• 1/28/10 - 4.98% with 0.6% points
• 1/21/10 - 4.99% with 0.7% points
• 1/14/10 - 5.06% with 0.7% points
• 1/07/10 - 5.09% with 0.7% points

Mortgage Refinancing Considerations

Keep in mind that refinancing now is the best idea because the Federal Reserve stops purchasing mortgage backed securities (MBS) this month. Analysts believe that mortgage rates will climb quickly to about 6%. Check into refinancing today before mortgage rates go up.

To get the best mortgage product for your needs, be sure to compare the fees and discount points charged with each loan along with the interest rate. Closing costs should also be compared.

Homeowners in Texas who are interested in refinancing a $150,000 mortgage loan or who want to purchase a home can take advantage of the low rates offered by Southern Funding Alliance.

Southern Funding Alliance Mortgage Rates

Here’s a sampling of mortgages currently offered by Southern Funding Alliance:

• 30-Year Fixed-rate mortgage at 4.750% (4.825% APR)
• 15-Year Fixed-rate mortgage at 4.250% (4.379% APR)
• 5/1 ARM mortgage at 3.875% (3.947% APR)

Each of the above mortgages has a fee of $1295 with zero discount points.

To find the best mortgage rate and term for your home refinance or purchase, compare rates online.