There are some very attractive savings offers for consumers right now. Average rates on certificates of deposit are the highest they have been in almost five years.
More Quotes from Greg McBride:
That's quite the opposite of what it was six or 12 months ago when we were in a rising interest rate environment, ... At that time everyone was going with the shorter term so they could reinvest at a higher yield going forward.Greg McBride
These are not things that are subject to price competition. No bank is going to advertise low bounced-check fees.
Greg McBride
That's the 64,000 question. Seventy percent of economic output is tied to consumer spending. The idea is to raise rates enough to stave off inflation, but not so as to curtail spending.
Greg McBride
Fee income is the great stabilizer of bank earnings, particularly in unfavorable interest rate environments such as the one we're currently experiencing.
Greg McBride
The prospect of future rate hikes will push yields on CDs even higher, making them even more attractive.
Greg McBride
Keep that line of credit open for at least the first few years, otherwise you may face a penalty or have to pay closing costs that the lender originally paid when you took out the loan.
Greg McBride
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