09-29-2006, 08:08 AM
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$ Saving College Senior
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Join Date: Sep 2004
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Re: ING Direct vs Emigrant Direct Bank
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Originally Posted by Sweepsplayer
Yeah, ouch. But in my defense, I was referring to the Fed funds rate. Now if the Fed cuts rates than I will gladly take my 10 lashes.
There could be several reasons why an individual bank drops its rates. My guess is ED has gotten a major inflow of deposits recently due to its relatively high interest rate and its recent software upgrade. They probably need to back off a bit to digest all these new funds.
Hopefully E-LOAN doesn't suffer the same fate. Hey, everyone, avoid E-LOAN, will ya?  |
Really just needed a good excuse to talk about shaking the crystal ball... |