Comments on: E*Trade CD Rates Dive To Appalling Lows http://www.bankaholic.com/etrade-cd-rates-dive-to-appalling-lows/ Compare the Best CD (Certificate of Deposit) Rates, Highest Money Market Rates, Best Savings Accounts, Bank Deals, Interest Rates and Bank Reviews! Thu, 09 Feb 2012 15:54:17 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: DealMaven http://www.bankaholic.com/etrade-cd-rates-dive-to-appalling-lows/comment-page-1/#comment-178489 DealMaven Tue, 02 Feb 2010 17:21:28 +0000 http://www.bankaholic.com/?p=6114#comment-178489 When E-Trade recently released its 4th quarter financial statement, it became pretty clear why they’re paying such shabby CD rates. While the brokerage business is doing fine, E-Trade is taking a serious hit from bad mortgages. In fact, delinquent loans rose 16 percent to $2.29 billion and charge-offs were up by almost $19 million versus a year ago. How can E-Trade save money? Don’t pay anything for CDs, but more importantly, hope that current CD holders won’t pay attention and let their certificates of deposit rollover and collect these pitiful rates. And they’re paying $3 million for each 30-second Super Bowl TV ad. You’ve got to cut back somewhere. When E-Trade recently released its 4th quarter financial statement, it became pretty clear why they’re paying such shabby CD rates.

While the brokerage business is doing fine, E-Trade is taking a serious hit from bad mortgages. In fact, delinquent loans rose 16 percent to $2.29 billion and charge-offs were up by almost $19 million versus a year ago.

How can E-Trade save money? Don’t pay anything for CDs, but more importantly, hope that current CD holders won’t pay attention and let their certificates of deposit rollover and collect these pitiful rates.

And they’re paying $3 million for each 30-second Super Bowl TV ad. You’ve got to cut back somewhere.

]]> By: William S http://www.bankaholic.com/etrade-cd-rates-dive-to-appalling-lows/comment-page-1/#comment-178417 William S Mon, 01 Feb 2010 16:21:55 +0000 http://www.bankaholic.com/?p=6114#comment-178417 Thanks for that, DealMaven. Amazing APY rates! Can only dream of such returns today. Thanks for that, DealMaven. Amazing APY rates! Can only dream of such returns today.

]]> By: DealMaven http://www.bankaholic.com/etrade-cd-rates-dive-to-appalling-lows/comment-page-1/#comment-178416 DealMaven Mon, 01 Feb 2010 16:06:43 +0000 http://www.bankaholic.com/?p=6114#comment-178416 Thanks for providing the link, William. With regard to your question about CD and savings yields in 1990: Jan. 1, 6-month 7.92% APY Dec. 26, 7.35% APY Jan. 1, 12-month 7.95% APY Dec. 26, 7.26% APY Jan. 1, 24-month 7.89% APY Dec. 26, 7.48% APY Jan. 1, MMA, 6.35% APY Dec. 26, 5.91% APY These are national averages as determined from a weekly survey conducted by Bankrate.com. No savings accounts data were available, but the MMA is probably close. As you can see, rates went down during the year. But they look great compared to what we're looking at today. Thanks for providing the link, William.

With regard to your question about CD and savings yields in 1990:

Jan. 1, 6-month 7.92% APY Dec. 26, 7.35% APY
Jan. 1, 12-month 7.95% APY Dec. 26, 7.26% APY
Jan. 1, 24-month 7.89% APY Dec. 26, 7.48% APY
Jan. 1, MMA, 6.35% APY Dec. 26, 5.91% APY

These are national averages as determined from a weekly survey conducted by Bankrate.com. No savings accounts data were available, but the MMA is probably close.

As you can see, rates went down during the year. But they look great compared to what we’re looking at today.

]]> By: Lightrider http://www.bankaholic.com/etrade-cd-rates-dive-to-appalling-lows/comment-page-1/#comment-178399 Lightrider Mon, 01 Feb 2010 08:39:56 +0000 http://www.bankaholic.com/?p=6114#comment-178399 I remember at one time in the early 70's I believe, my parents had a 11 or 12 % CD. I could be wrong but I vaguely remember it. I remember at one time in the early 70’s I believe, my parents had a 11 or 12 % CD. I could be wrong but I vaguely remember it.

]]> By: William S http://www.bankaholic.com/etrade-cd-rates-dive-to-appalling-lows/comment-page-1/#comment-178371 William S Sun, 31 Jan 2010 20:47:52 +0000 http://www.bankaholic.com/?p=6114#comment-178371 P.S. Here's the link to the funds rate history: http://www.federalreserve.gov/fomc/fundsrate.htm P.S. Here’s the link to the funds rate history:
http://www.federalreserve.gov/fomc/fundsrate.htm

]]> By: William S http://www.bankaholic.com/etrade-cd-rates-dive-to-appalling-lows/comment-page-1/#comment-178370 William S Sun, 31 Jan 2010 20:47:23 +0000 http://www.bankaholic.com/?p=6114#comment-178370 Absolutely pathetic. BTW - I noticed that the federal funds rate was a whopping 8.00% in 1990! Does anyone recall what CDs and savings accounts were paying at that time? Absolutely pathetic.
BTW – I noticed that the federal funds rate was a whopping 8.00% in 1990! Does anyone recall what CDs and savings accounts were paying at that time?

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