@Anonymous wrote:Yikes! Not a good sign!
There goes the 6% APY on my new DCU savings. Writing was on the wall!!
@blindambition wrote:
@Anonymous wrote:Yikes! Not a good sign!
There goes the 6% APY on my new DCU savings. Writing was on the wall!!
FWIW, DCU has yet to slash their rates despite all the previous Fed cuts. Maybe they'll keep it at 6.17% or just a slight cut. I mean it's on a small amount of money anyway and they seem to prefer paying on savings over paying rewards on their credit cards. Encouraging members to save benefits the health of the credit union so I wonder if we will see rates slashed with CUs as much as banks.
ETA: Using the Wayback Machine, DCU was offering 3.04% on the first $500 back in 2015, 5.12% on the first $1K back in 2017, and 6.17% started some time between 2018 and 2019 (there's not a snapshot between 8/2018 and 5/2019 but the rate was 6.17% when I opened my account last February).
@blindambition wrote:
@Anonymous wrote:Yikes! Not a good sign!
There goes the 6% APY on my new DCU savings. Writing was on the wall!!
And the lower but decent rates on my Amex, Penfed, and Memory Bank savings. Back to 2008, when I was lucky to get 1/10th of 1%. But hey! maybe Barclays will lower the rate on my credit card from 22.9% to 22.8%! (Like I'd ever carry a balance at that rate)
@Anonymous wrote:
@blindambition wrote:
@Anonymous wrote:Yikes! Not a good sign!
There goes the 6% APY on my new DCU savings. Writing was on the wall!!
FWIW, DCU has yet to slash their rates despite all the previous Fed cuts. Maybe they'll keep it at 6.17% or just a slight cut. I mean it's on a small amount of money anyway and they seem to prefer paying on savings over paying rewards on their credit cards. Encouraging members to save benefits the health of the credit union so I wonder if we will see rates slashed with CUs as much as banks.
ETA: Using the Wayback Machine, DCU was offering 3.04% on the first $500 back in 2015, 5.12% on the first $1K back in 2017, and 6.17% started some time between 2018 and 2019 (there's not a snapshot between 8/2018 and 5/2019 but the rate was 6.17% when I opened my account last February).
I joined DCU in October 2018 and it was 6.17% then too. I think they'll keep it, considering that it's only 0.10% for any amount above $1k.
I was wondering how that would translate to mortgage lending, as I am in the middle of a home building and am financing with NFCU. I'm still more than 90 days out from closing so I've not locked my rate. When i looked at fixed 30 year Military choice rates, they have jumped considerably...YIKES!!
@Anonymous wrote:Lets hope, I just opened an account last week!
Maybe, just maybe some Lenders will offer 0% APR through 20/21 on all purchases and or BT's to help out during this rough patch.
Not holding my breath though, the best thing they'll do is simply send an email saying were here for you.
Receive a 0% BT offer from WF this morning.
@Anonymous wrote:Really? I was just on therie site, and if anything they seem lower. Of course that not taking into them pulling my CR.
But I did notice their messege. Due to a high volume of applications, it may take us longer than normal to respond.
We’re working to process applications to the best of our ability. Thanks for your patience.
So it looks like I should have started the process sooner! lol
If I was even to starte the ball rolling today, who know when I'd actually fet anything meaningful done by summer. Was wanting to break ground in spring when the ground thawed, but it just snowed both Satuerday and Sunday!
Yup, the rate for Military Choice as of 1am this morning is 4.625% with and APR of 4.911%. Last week is was at a flat 4.00%. I know this is higher than conventional, but it is 0 down and 0 PMI. Looks like Adjustables are trending down, but fixed rates aren't.