Interest Rates Plummet (Predictably)
If you’ve checked out the front page of Best Interest Rate Banks lately, you’ve seen the latest rates as of early January 2009 and they are ugly.
The highest rates barely peek over 3.00% and there isn’t much we can do about it. The best thing you can do is lock in a good CD rate at whatever bank you’re at and wait for better times.
One bank you might want to consider is Dollar Savings Direct with their 4.00% rate, which will likely fall very soon.
If you have the means, you might consider putting a little in the market or even in into some municipals bonds, which are offering slightly higher yields.
Bank rates will be low, and going lower, for the foreseeable future.