- 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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A hot shot finance guy such as yourself should consider that.
A hot shot finance guy such as yourself should consider that.
There's an article in wsj that says the fed is shooting themselves in the foot by raising rates and central bank is actually losing money paying back mbs.
Feel free to message me if you want
I remember during the stimulus check time.. ppl were rushing to buy overpriced playstation 5 and Xbox. Had a guy who said I just got my stimmie and I need this Xbox... I was like ok thank you.
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From FOMC yesterday..Jerome wants us to not just focus on how much the rate will increase the next time.. but how high it CAN go and how LONG it will stay high. I think he's hinting that this is going to go on for awhile and "soft landing" may sound more like "abort abort"
Step 1: AARP .. just sign up. Some places give you Cashback so you might even make money signing up for AARP. Chase credit card gives you Cashback on Chase offers for AARP. Ymmv.
AARP gets you that .1%
Step 2: if you have Marcus already.. start referring your friends and family. Each referral gives you 3 months of that 1% bump. However it also gives your friends and family that 1% bump putting them at one of the highest rate possible. I'm at max (5 ref) which means it's 1.25 year of that 1% .
Assume you get referred and you refer 5 people, you would be getting 1% bump + market rate until 2024.. I mean 2024 we would be in a different world by then.. hopefully
Step 3.. Marcus will keep raising the base rate every month. Sometimes twice a month. That 1% sticks though.
I think some people have car loans at 0.9%, mortgage at 1.9% , business loans (ppp) at 0% .. that's the real joke
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