Blog by a 50-something person looking for a second career through online training, networking, and self examination. The blog also covers investments, financial planning, and totally random unrelated topics.
Sunday, December 21, 2014
Intrerest Rates Rise Again
$$$ +++ %+++ $$$
In September, I wrote about the rate increase in the Ally Bank Online Savings account from 0.87% to 0.90%. Well the rate has gone up again to 0.99%, a 10% increase. So the overall rate increase in 2014 for this online savings account is 14%.
I don't know if this is due to the predicted rise in short term interest rates driven by the end of QE and predicted Fed rate increases in 2015, but it is a pointer that short term interest rates will likely go up.