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The Kitchen Table

Aha!

18 years ago

For the past couple of years, the best rates on CD's at my bank were on 7 or 13 month ones. You got no benefit from taking out the longer CD's. Which I took to mean that they knew the rates would be coming down.

Just noticed that the rates have finally sorted themselves out--and the best rates are on the longer term CD's--the longer the higher rate. Which is how it's traditionally been in the past, of course.

So, looks like the bank sees (and is 'banking' on--pardon the pun) an upturn in the relatively near future--next couple of years, at any rate. Hope their crystal ball is working well. But not too soon--I'd like to get a mortgage at the current low rates, if we can find the perfect retirement home soon.

Anyone else want to check in with the rate trends in their area?

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Comments (3)

frostedc
18 years ago
Sorry, can't help ya. I stuff all my money in my
mattress.
Linda Wayman
18 years ago
I've been watching the rates. If they go low enough we would like to refinance. A mortgage lender at the bank is also watching. She said she would call us if she thought they were low enough to benefit us for refinancing.

Linda
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joyfulguy
18 years ago
Several people have sounded surprised when I have said that I don't like earning interest.

In our situation, tax rate on interest is at top rate, but dividends on local stocks used to be somewhat lower, and last year the advantage increased somewhat.

When I put my money where it earns interest, almost always the number of dollars of principal is guaranteed not to shrink ... but the number of dollars (apart from the rent that they are earning) won't grow, either.

Rather than putting my money into the bank and let them earn more on it than I do ...

... how about owning part of the bank (well, most of the time ... if not so hot, recently, when some of them've been up to some rather nasty shenanigans)?

My fully-secured line of credit would have charged me 6.25% about three or four months ago, I think it was.

Then it was 5.75% for a while.

A couple of weeks ago it was 4.75% ... before the latest round of rate cuts.

I figured that I could borrow to invest at almost nil net cost when the rate was 6.25% (but was trained in the days when we were told not to be in debt ... and found it's a bit hard to teach am old dog (or, if female, you know the word) new tricks.

However ... the borrowing to invest deal looks even better, now.

ole joyful

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