Now that we have validation that the economy is growing again — as evidenced by the first look at third quarter GDP — is it time for the Fed to start reeling in the lines of liquidity? Expect a whole lot more debate about that, inside and outside the halls of the Federal Reserve, surrounding the Nov. 3 to 4 meeting of the Federal Open Market Committee.
The Fed has begun to test the unwinding of some of its other liquidity programs already, but the real significance to consumers revolves around expectations for eventual rate hikes and the Fed’s support of the mortgage market.
The Fed’s mortgage purchases will taper off through the end of 2010′s first quarter after having extended the timeframe by an extra three months, but not increasing the amount of the buybacks. But the mortgage market remains almost entirely dependent upon government support of one form or another — the Fed buying mortgage-backed debt to keep rates low and government owned entities Fannie Mae, Freddie Mac and the FHA guaranteeing mortgages against default.
With the Fed having purchased 80 percent of all mortgage debt issued this year, just how much will it be able to slow the pace in the next five months without a surge in mortgage rates resulting?
You can land a $50 bonus and top rate with Ridgestone Bank’s checking and savings account combo.
Its Momentum Savings account pays 2.50% APY on balances between $2,500 and $50,000.
That beats the best nationally available savings account rate and matches the best returns on 24-month CDs.
To qualify for that rate you have to open a Momentum Checking account, but it’s a pretty good deal too, with no fees and free use of MoneyPass ATMs nationwide.
Georgia residents can take advantage of a 4.15% APY Reward Checking Account from Greater Rome Bank. In order to receive the following rates, you must meet certain monthly requirements:
4.15% APY on balances up to $20,000
1.15% APY on balances over $25,000
0.15% APY base rate if qualifications are not met
The following are the account’s monthly requirements:
10 debit card purchases
1 direct deposit or ACH debit
Receive e-Statements
Some other features of the account include:
$100 minimum initial deposit
No minimum balance requirement
No monthly service charge
In order to open an account, you need to visit a location. Branches are located in Rome, Georgia.
Checking Account Rates
Other Terms and Conditions may apply to this offer – please contact the financial institution to review.
Setting up an emergency fund for a financial crisis can mean the difference between going into debt and supporting one’s family.
People experience natural disasters, unexpected job losses, and costly medical bills. When someone experiencing a financial emergency has an emergency fund set up, he is more likely to get through the crisis without going into debt.
Emergency Fund Amount
Ideally, people should have three to six months of their living expenses in an emergency fund in case of a crisis. If possible, it should be closer to six months, but any amount of saved money can help when a financial crisis occurs. If a person loses her job, she may need three to six months of income to find a new job, get benefits and receive her first pay check. It will be much less devastating to lose one’s job if there is considerable financial planning ahead of time.
Decide how much money is spent in one’s household on a monthly basis. Include all necessities such as food, rent, bills and clothing. Multiple this amount by six to get the ideal amount in one’s emergency fund. What
Louisiana residents can benefit from an impressive 5.01% APY on balances up to $30,000 with the Reward Checking Account from Pelican State Credit Union. In order to receive this rate, you must meet the following requirements each month:
15 debit card purchases
1 direct deposit or payroll deduction
Enroll in electronic statements
Access your account online
If you don’t meet the requirements, your rate drops to 0.50% APY and you no longer qualify for up to $12 in ATM fees each month. If you don’t receive electronic statements, you don’t qualify for an APY at all. No month service charges apply.
Membership to the credit union is open to those who live, work, or worship in specific areas in Louisiana. Visit the membership page for more details. Branches are located in the Louisiana cities of Denham Springs, Baton Rouge, Jackson, Opelousas, Chalmette and Zachary.
— Admin @ 5:35 am — 
November 7, 2009
Its Momentum Savings account pays 2.50% APY on balances between $2,500 and $50,000.