2007-09-01 14:14:03 · 3 answers · asked by Anonymous in Business & Finance ➔ Investing
recent Bank CD rates are rising
2007-09-01 14:29:57 · update #1
CD rates have NOT been rising since early this year.
In fact, they have been very stable for the past several months. The consensus is that the Feds will lower the rate before the end of this year, which will in turn cause the banks and credit unions to lower theirs.
Many of the banks that I watch have already brought down their CD rates to about 5.05, from as high as 5.5% earlier.
This may be a good time to lock in a CD as the outlook over the next few years tends more toward the lowering of interest rates in the US.
2007-09-01 14:22:35 · answer #1 · answered by InspectorBudget 7 · 0⤊ 0⤋
Banks need money coming in. Mortgages are failing all over with the housing market like it is, and foreclosures are making it difficult for the financial industry. They need your money to invest and make more money. If they pay you 4-5% on a CD, they invest it and make 10 or 12%, and they have your money for a set period of time.
2007-09-01 14:23:05 · answer #2 · answered by P S 4 · 0⤊ 0⤋
The music industry is begining to lose more and more with the constant stealing of music, and buyers have begun to buy mp3s instead of cds because they are cheaper and it does not require spending x amount of money for only one song they may want.
2007-09-01 14:22:33 · answer #3 · answered by Sir 3 · 0⤊ 2⤋