Gosh, Famewolf, I wish I had the answer to that. But I’m no interest rate seer. My good fortune this past week was just that. It was luck.
I recall back in (roughly) 1982 I bought some “trip/trip” (rated triple A both services) muni bonds paying 11% tax free. Those suckers were still paying twenty years later and helped me retire early. So was I a genius? Not at all. I went into those bonds reluctantly and with considerable uncertainty about future interest rates. Smart money (unlike me) would have bought ten times the dollar value of those bonds I did. I loved those bonds, though. Gosh they were wonderful. And they were dollar good, too, as you would anticipate with trip/trip paper.
Anyway, bottom line I cannot tell you where interest rates will be in the out years. I surely wish I could. All right, would it be smart to hedge, perhaps splitting your dough and buying into at least some longer term, highest yielding CDs? Again, I dunno. But that is an option you could consider.
Thanks for reply. I’ve shifted some funds I had sitting in ally checking into their anemic 2.10% savings for the time being because I want to be “locked and loaded” to take advantage of any limited time promo rate opportunities that may arise. I swear I spent 5 minutes considering moving to either Michigan or Pennsylvania so I could take advantage of all the ones posting to depositaccounts blog that are only for those residents. If I had a friend there I’d rent a closet in their house for a mail drop like they did in the “old days”.
Duly noted. Unfortunately, I opened one in April and really didn’t put a whole lot into it. Since this is still the same promo, and it is one to a customer, I threw away my shot.
The Navy Federal 10-month 2.75% APY add-on CD is no longer listed on the credit union’s rate page as of July 1 [Information taken from a post on depositaccounts.com by “CapitalClimate”]
Thank you, pattyb53, for the heads up. I had forgotten to go in and check.
Upon checking Interior’s numbers I found everything in fine order. This means their interest calculation agreed with my own.
Life is always easier when there are no shenanigans. I agree we are fortunate to have locked in this CD, given everything that is going on and all the declining interest rate turmoil.
I am poised to take advantage should anything surface prior to the election. You never know. But more likely our fortunes in these upcoming months will be determined by add-on accounts already opened and/or by (for liquid money) accounts having locked rates, the longer the lock it would appear the better.
Just as a heads up for those who, helped by Argyll, recently opened this account:
Do not neglect to go into your new CD account online and set up your maturity directive. I just did mine. The default, of course, is renewal. But you might not want your certificate to renew upon maturity.
I logged into NFCU the other day to open one and discovered I already opened one on 4/29, which was apparently the first day. It’s bad when I can’t remember all the CDs I open, although I’m sure I’m not the only one. I do keep a list, sorted by maturity date, though.
Please do not go over onto Ken’s website and post the reminder I’m about to offer here. This is for fragiledeal.com CD thread participants. Posting over on Ken’s website could kill this deal dead. Ken himself appears to have forgotten about it. Thank you. Now the reminder:
As I predicted might happen, it appears circumstances have not yet overcome the CD deal I posted last month up thread. We are now in July and into the second half of this year. But, at this hour anyway, the 5 year promo CD interest rate is holding. Obviously this could change at any time. And remember, this deal is good anywhere in the USA. It is not a local deal. Not everyone does, I realize that. But if I had five year CD money today, this is where I would put it:
Thanks shinobi. I’m sure this would be a good deal for folks that go for long CD’s. I do have some money still available at Grow, but 5 yrs won’t cut it for me. My last long CD was Sharonview 4%. I couldn’t resist.
I really appreciate the heads up shinobi. You are the best!
I think you are more organized than me. I do put their maturity dates into calendar as all day events so know when I need to do something with them and I use personal capital as an aggregator so I can SEE all of them. It’s free and might be of use to you although they do occasionally push an ad suggesting you speak to an advisor.
They have PA!
