- MySavingsDirect (Emigrant Bank) [mysavingsdirect.com] - 4.35%
- Merchants Bank of Indiana [merchantsbankofindiana.com] - 4.34%
- Bask Bank [baskbank.com] - 4.25%
- UFB Direct [ufbdirect.com] - 4.21%
- Upgrade Premier [upgrade.com] - 4.13%
- Salem Five Direct [salemfivedirect.com] - 4.10%
- Capital One 360 Savings [capitalone.com] - 3.4%
- Robinhood Gold [robinhood.com] - 3.75% w/ $5/mo membership (Can't verify)
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The point I'm making is, if the Fed meets expectations (currently 50bps-50bps-25bps-pause) over the next 4 meetings, the rates will theoretically stay where they are.
To use a real-world example, it's the same reason why mortgage rates have been rising gradually and why they didn't suddenly rise 75bps yesterday or today upon the Fed hike announcement. It's because it was already priced in.
Edit: Note, I'm leaving quite a bit of nuance and detail out of this and am not picking on you in particular. I just see quite a bit of misunderstanding about how consumer interest rate products react to Fed overnight rate hikes and when.
Source: Work in finance
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Savings Account for 3% APY [capitalone.com]
My Ally savings account just went up to 2.5%. They're increasing it like every two weeks. Insane.
My Ally savings account just went up to 2.5%. They're increasing it like every two weeks. Insane.
My Ally savings account just went up to 2.5%. They're increasing it like every two weeks. Insane.
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The point I'm making is, if the Fed meets expectations (currently 50bps-50bps-25bps-pause) over the next 4 meetings, the rates will theoretically stay where they are.
To use a real-world example, it's the same reason why mortgage rates have been rising gradually and why they didn't suddenly rise 75bps yesterday or today upon the Fed hike announcement. It's because it was already priced in.
Edit: Note, I'm leaving quite a bit of nuance and detail out of this and am not picking on you in particular. I just see quite a bit of misunderstanding about how consumer interest rate products react to Fed overnight rate hikes and when.
Source: Work in finance
My Synchrony HYS is now 3.0 APY.
Our community has rated this post as helpful. If you agree, why not thank rrampras
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The suspense is killing me!
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