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Old 09-26-2008, 10:46 PM
 
Location: NJ
2,111 posts, read 7,475,448 times
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If you have CD's at Wamu, which had some good rates, can Chase change the rate? ING took over Netbank and the rate remained, over 5%.
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Old 09-26-2008, 11:18 PM
 
19 posts, read 182,045 times
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Default CD rates

When JP Morgan Chase purchased the assets (deposits), they bound themselves to the terms of the CDs not in grace period.

Don't look for the CD rates on new CDs to remain as high. I have a feeling JP won't be looking to increase their deposits by much more, hence possibly less aggressive CD rates in the future.

When a bank needs to increase their deposits they increase their rates; when they don't, rates go down.

take care, ana
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Old 09-26-2008, 11:41 PM
 
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I think the way CDs work is your rate is locked for the period of the CD.
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Old 09-27-2008, 11:18 AM
 
Location: NJ
2,111 posts, read 7,475,448 times
Reputation: 1018
Thanks, I thought my rates were locked in, for 5 years.....
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