When will Emigrant-direct raise there yield from 3.25%

[gavinmccallister]

Since the Federal Reserve raised rates to 3.25% How long before we see banks increasing their rates?

[34saving]

I doubt we'll see it at all. Savings rates aren't necessarly linked to the Fed. Emmigrant is more or less the highest yield out there so they have no competitive reason to go higher. Now, if the banks decide to get into a rate war then all savers will win, but I don't see that on the near horizon. . . . But maybe I'm just being pessimistic . . . Hopefully that's the case

[obi_positive]

I think ING will have to up the ante and people will have to decide that saving is more important than spending. Many are staying with ING because of great customer service and slicker, easier web interface. And we all want to spend money on a new iPod Mini. Personally, I prefer to save the money.

[CRFSaver]

One of the problems that banks like Emigrants and ING as well as many community banks are facing, are fast growing deposits without a corresponding growth in assets. That is, they are having a hard time investing those deposits. The national scale lenders have no problem with this but it is a big issue ont he local side of the business Add on top of that a relatively flat yield curve, its actually limiting the banks abilities to raise rates even if they wanted to. I dont think you are going to see huge increases in rates.

As for Ipods... I personally have a little sandisk MP3 player. Smaller then the Mini and the shuffle, has 512MB flash memory (meaning you can actually run with it and not worry abuot damaging a HD like with the mini), an FM receiver for when I am at the gym, and an interface that is quite easy. With 512Mb you can store between 120 and 240 songs. Add on top of that, you are not married to Itunes.

Oh yeah, and at 75 bucks, a heck of a lot cheaper then any of the apple products...