Sweeps, I'm with you. I have a fixed rate for 6 months at my bank and it is beating most of the banks out there. I still have money in FNBO and I know after March that my banks special rate will end and FNBO might not look so bad then. I think that most of these banks will lower interest rates. The only alternative is a CD. A couple of months ago I took advantage of FNBO's CD rate which was at 5.10/5.25APY 9 month rate. I also got anothe CD with Washington Mutual for 7 months for 4.98/5.10APY with an add on rate until then. Other than that, the banks are going to lower their rates. I'm just trying to minimize the number of institutions that I currently am dealing with.
|