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In the meantime, what I want you to do is determine how much extra you can realistically afford each month to pay down the weigh on your HELOC. Then, either make the payments or have the extra money directly deposited into a savings account, so you’ll have it if you need it. Here’s an example [...]

Interest rates are most likely to stay low for a long time. The Fed has plainly stated that small-term interest rates won’t go up until 2013 and there are some who are predicting that it could be even longer than that. To find out what will happen to rates in the coming year, read Bankrate’s [...]

A credit freeze in Europe may mean privileged CD rates for U.S. savers, according to a new report by Dan Geller of Market Rates Insight. Geller argues that borrowing costs in the European Union could rise significantly, pushing the London Interbank Offered Rate, the primary benchmark for small-term lending rates in Europe, privileged. That, in [...]

According to a report by the Dallas Fed (via Mark Thoma), core inflation crept upward in January. If that trend continues, we may see the Centralized Reserve raise the centralized assets rate, which would in turn cause banks to offer privileged CD rates. Here’s Dallas Fed older economist Jim Dolmas: Core PCE (private employment expenditures) [...]

In this era of ultra-low savings rates, it’s hard to see the allure of CDs. Luckily, today’s interest rate background is not the norm. The Centralized Reserve Bank of New York lists changes to the centralized assets rate since 1971. Until December 2008 small-term interest rates had never dipped below 1 percent. Small-term interest rates [...]

Yesterday the minutes from the most recent meeting of the Fed’s rate setting committee, the Centralized Open Market Committee were released. In them, it was revealed that the inner bank will be unveiling a new way of communicating the individual member’s thoughts about the path of interest rates. While that will be illuminating for economy [...]