Best Bank Rates 2009 [mortgageinsuranceguide.blogspot.com]
I can't describe the insanity of what the largest banks are doing during the grace period before the CARD Act of 2009 goes into effect. My interest rate was raised arbitrarily to 19.99% for no reason other than to make more profit. This happened even after I OPTED-OUT and closed the account: Just listen to the insanity of this call to Chase Bank Cardmember Services. Update 01/02/2012 - What's worse than what Chase did to me are all the comments that I am a jerk for berating this person who fielded my call. Not his fault? Not his responsibility? Are you morons? He represents Chase period. Proof is in the pudding that the Comptroller reviewed my situation, agreed with me, took Chase to task and Chase called me 10 days later and called it a mistake. yeah a mistake that happen to tens of thousands... That's a laugh. They APOLOGIZED IN WRITING and refunded all interest beyond the rate I was supposed to get. I am not living beyond my means and was not asking for a break like the butt wipes who bought 0K homes on 5/1 arms and only made 60K a year... then cried that they got screwed when their mortgage tripled. We didn't have a mortgage crises in this country we had a stupidity crises. Chase pulled a fast one along with many other Credit Card issuers. They were so aggressive Congress got involved and passed legislation to prevent the very problem that some say I was a jerk for complaining about. When you're wronged you try to resolve the issue directly with the lender, if that ...
mortgageinsuranceguide.blogspot.com Insane Chase Bank Interest Rate Phone Call
With interest rates down nationally, finding the best bank rates in 2009 is not an easy task. Many have lost money in the stock market crash of 2008 and are looking to save money in banks. This article will help you to find the best bank rates whether you are looking for certificate of deposit rates, savings account rates, money market rates or checking rates.
Lower Interest in 2009
As the Federal Reserve continues to lower interest rates, the interest paid by United States banks keeps decreasing. This decrease in savings account interest, CD rates and checking interest is make finding a good bank difficult.
Bank Financial Instability
Another problem that people are facing is the uncertainty of the financial condition of local banks and nationwide banks. As the real estate market continues to recede, United States banks are facing severe balance sheet problems.
This makes finding the best online banks even more important than before.Best Bank Rates
Finding the best bank rates is more difficult than ever. Last year you could find savings account interest at 3.00%, money market rates at 3.00% and CD APYs as high as 5.00% for 5 year CDs. All of that changed in August of 2008.
Best High Interest Savings Account Rates
At first Washington Mutual Bank, Countrywide Bank and AIG failed. The demise of these banks stopped the online banks race for the highest interest. Emigrant Direct, WaMu and ING Direct all immediately lowered their interest on their high interest savings accounts.
The best bank rates in 2009 are now being seen at the newly formed Ally Bank (formerly GMAC Bank), Dollar Savings Direct and WT Direct.
But, no longer are we seeing 3% savings account interest. Instead, the best savings account rates in 2009 are around 2%. Unfortunately, the 3% savings account APYs are no more.Best CD Rates
The best CD rates have also fallen. Last year you could find the occasional local bank offering 5% 5 year CD rates. But, now you are doing great to find 3% CD for 5 year CDs. Shorter term CDs are in the 2% range.
As you can see finding the best bank rates in 2009 is not as easy in the past. Another problem is that banks are offering a wide range of rates. Therefore you really need to do your research.
Suggest Best Bank Rates 2009 ArticlesQuestion by Felix M: Does central bank rate hike influence government bond yields? I think government bond yields are based solely on the riskiness of the country defaulting. Is that true? If central bank announces a rate hike, does that influence direclty the government bond prices/yields? What about indirectly? Best answer for Does central bank rate hike influence government bond yields?:
Answer by SDD
The central bank is a buyer/seller of those bonds. The "rate hike: simple means they are selling more or buying fewer of them.
Answer by pata
The government bond yields are based on the real interest rate, expected inflation, perceived risk of default, liquidity concerns, term structure, and other phenomena such as "flight to quality" (seen in 2008-2009). Since the central bank can control the real interest rate with a high degree of precision, it directly influences government bond yields. If you are talking about US Treasury yields, where the risk of default is zero and the market is exceptionally liquid, the central bank directly controls government bond yields.
Answer by Mukesch Kaley
bond yield is entirely different parameter from returns from a bond..yield takes care of diurnal variations and an yeild on a perticular day for an instrument could be drastically different from end returns or even returns after a while on selling. as such, the answer is affirmative.
Answer by Anjaree
There is a short term and long term rate. The long term rate is the bond rate.If the government has to finance the deficits more by selling securities to the FED,the rate will go down and vice versa.If the rate is going up, the bond price will go down.Lees debts,less QE, more growth.
