Community Chat

[phoenixbrd]

just announced to be raised .25.  The Fed took the middle of the road choice.  

[granddi]

And the markets noticed. The highest since '07 

[Still Raining]

I still remember about 1980 or so, wow.  Now I know why old folks say kids are spoiled.  Anyone else remember the mortgage rates?

[Big Joanie]

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@Still Raining wrote:

I still remember about 1980 or so, wow.  Now I know why old folks say kids are spoiled.  Anyone else remember the mortgage rates?

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Oh I do ....

[granddi]

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@Still Raining wrote:

I still remember about 1980 or so, wow.  Now I know why old folks say kids are spoiled.  Anyone else remember the mortgage rates?

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yes, we took out a business loan. The banker kept apologizing that the interest would be 10%. I knew seniors that were elated that CD rates were 12%+.

[gidgetgh]

Again, have to say that I am thrilled with the personal savings rates. 

[AuntG]

Glad we aren't looking for a mortgage. 

[phoenixbrd]

Today's market.....it closed down 531 points.

Dow Jones Industrial Average

As of 22 March 2023 • 4:05 PM GMT-5

DJI: .DJI

32,030.11USD

-530.49(1.63%)

Today5D1MYTD1Y5YAll

[gidgetgh]

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@phoenixbrd - my main bank, a large one, had been paying .01 on their money market accounts. They raised the rate to 3.66.....for a money market. I was shocked.

They're also offering a 9 month cd for 4.65%. 

My favorite, American Express money market will probably raise their money market rate again, now that the Fed raised interest.  They're currently paying 3.75% for their money market.

If you have a 2nd person on the account, or a beneficiary named on the account, the FDIC limit is usually higher.