Interest Rates in the News: November 9, 2009
Posted on November 7th, 2009
There’s been no shortage of news regarding interest rates: whether it’s for certificates of deposit, mortgages, or credit cards. Here are some recent highlights:
SmartMoney asks: Is Now the Time to Jump Off Your CD Ladder?
Investors looking to maximize their yield in a low-rate environment could consider a “barbell” strategy, keeping half of their money in a savings or checking account and the other half in a five-year CD, Barrington says. “One and two year rates are not appreciably better than what you could get if you shop around for a savings account,” he says. The money in the savings account would be available to move immediately when rates pick up – and the average yield from a barbell would be higher than the average yield from a ladder under current conditions, Barrington says.
The Associated Press announces that Georgia has secured historic low interest rates on state bonds:
Georgia secures low interest rates on state bonds
Gov. Sonny Perdue said the cheap rates saved the state $35 million for fiscal year 2010, which began in July. That’s good news for the state, which is struggling with sagging tax collections thanks to the recession.
TopNews reports on some possible changes to credit card rates:
Hike in Credit Card Interest Rates
With the expected moves, credit card companies will be going back to the basics. In the 90s, an annual fee for cards was common, but as the usage grew, more and more companies starting offering customers easier options. It seems that, in order to survive, credit card firms will have to take a cue from the times bygone.
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Tags: Interest Rates, News
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