Do you think we will see Emigrant Direct go to 5% before the end of the year?

[gavinmccallister]

Do you think that Emigrant will go to 5% before the end of the year?

Yes

or

No

[weiwentg]

that would be impossible. the Fed funds rate is currently 4.0%, the last Fed Reserve meeting of the year is on 12/13, and the most likely outcome is that they will raise the rate to 4.25%. there's no way Emigrantdirect can make money if they raise their rates to 5.0% this year. furthermore, the Fed has already indicated that they will discontinue the raises within the near future. it's questionable whether the rate will get to 5.0% by the end of next year.

[ken1706]

Looking at Emigrant's history this year, I think the best we can hope for is 4.25%. Maybe 4.50% late in December or early January.

They started out this year with 3% which was way above what others were offering. The Fed rate at that time was only 2.25% and ING was only at 2.30%. Emigrant has only done 3 rate increases this year (0.25% last March, 0.25% last July, and 0.50% last September).