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Lackluster Jobs Report May Delay Higher Savings Rates
 

Lackluster Jobs Report May Delay Higher Savings Rates

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An all around lackluster jobs report might delay the increase in savings rates. Prior to the jobs report being released last Friday, we expected deposit rates to start moving higher in June, once the federal funds rate was increased. The weak report might delay an increase in the fed funds rate until September.

Bank rates, which include CD rates, savings rates, and money market rates are all tied to the fed funds rate. When the rate is increased, bank rates also move higher. Listed below are the best savings rates and money market rates available for April 6, 2015:

Top 10 Rates April 6 2015Best 10 Savings Account Rates

  • GE Capital Direct Rates 1.04% APY 1.05%

  • My Savings Direct Rates 1.04% APY 1.05%

  • Synchrony Bank Rates 1.00% APY 1.00%

  • CIT Bank Rates 1.00% APY 1.00%

  • Barclays Bank Rates 1.00% APY 1.00%

  • iGOBanking Rates 1.00% APY 1.00%

  • Ally Bank Rates 0.99% APY 0.99%

  • Discover Bank Rates 0.90% APY 0.90%

  • Radius Bank Rates 0.85% APY 0.85%

  • Colorado FSB Rates 0.85% APY 0.85%


Best 10 Money Market Rates

  • EverBank Rate 1.01% APY%

  • ableBanking Rate 1.00% APY 1.00%

  • Sallie Mae Rate 0.90% APY 0.90%

  • iGOBanking Rate 0.90% APY 0.90%

  • Synchrony Bank Rate 0.85% APY 0.85%

  • Ally Bank Rate 0.85% APY 0.85%

  • Mutual of Omaha Bank Money Rate 0.85% APY 0.85%

  • EH National Bank Money Rate 0.80% APY 0.80%

  • First Internet Bank of Indiana Money Rate 0.80% APY 0.80%

  • Lone Star Bank Money Market Rate 0.80% APY 0.80%


Author: Brian McKay
April 8th, 2015