East Boston Savings Bank's CD Rates and Financial Information
East Boston Savings Bank Main Address and Contact Information
10 Meridian Street
Boston, Massachusetts 02128
East Boston Savings Bank FDIC Certification Number
East Boston Savings Bank
Rating: (4 out of 5)100
East Boston Savings Bank CD Rates
Rates Updated: 07/29/2016
Articles Related to East Boston Savings Bank
Best Variable Deposit Rates October 12, 2016
Variable deposit rates have been slowly creeping up for the past several months. The interest rate increases have been small; in increments of less than 10 basis points for the most part. Even with the small increases, the best variable deposit rates are almost comparable to best the 1 year CD rates.
The best savings rate on our rate database is at 1.25 percent with an APY of 1.26 percent from Popular Direct. This savings rate is only 4 basis points lower than the top 1 year CD rate in our database at 1.29 percent with a yield of 1.30 percent. The highest money market yield on our list is 5 basis point lower at 1.24 percent with a yield of 1.25 percent.
Listed below are today's current highest savings rates and money market rates
Highest Savings Rates
Highest Money Market Rates
To view a current list of savings account rates and money market account rates search our database at SavingsAccount.MonitorBankRates.com.Read more...
Deposit Rate Report August 11, 2016
Listed below are the best savings rates and money market account rates for August 11, 2016.
Best Savings Rates August 11, 2016
Best Money Market Rates August 11, 2016
Average Variable Deposit Rates for August 11, 2016
Savings Rate and Money Market Rate Report August 2, 2016
Savings rates and money market rates remain stable in our Deposit Rate Report for August 2, 2016. There have been some rate changes since our last deposit rate report but no new highs to report. As expected, the FOMC didn't increase the fed funds rate during their meeting last week.
The next FOMC meeting is scheduled for September 20-21 but it's unlikely the FOMC will increase the rate during that meeting. Listed below are the current best savings rates and money market rates available in our database of rates.
Best Savings Account Rates August 2, 2016
Best Money Market Account Rates August 2, 2016
Average Deposit Rates for August 2, 2016
Variable Deposit Rate Report for July 11, 2016
Listed below are current savings rates and money market rates in our Variable Deposit Rate Report for July 11, 2016. Also listed below are average savings/MMA rates for 7/11/16. You can see how these rates compare with all deposit rates by searching our rate database: Variable Deposit Rates.
Top Savings Account Rates July 11, 2016
Top Money Market Rates July 11, 2016
Average Savings/MMA Rates July 11, 2016
Sorry Savers, Brexit Kills Any More Rate Hikes in 2016
Hopes were high for savers late last year when the Fed increased the fed funds rate for the first time in nearly a decade. The rate hike of 25 basis points in December 2015 was expected to be the first of many hikes to come. In the Fed's economic predictions for 2016, a majority of Fed participants expected four rate hikes in 2016.
Savers finally had reason to be hopeful that deposit rates would move higher in 2016, then came reality. The second rate hike looked like it would happen during the Fed's March meeting. During the Fed's March meeting, slowing economies worldwide spooked the markets and the Fed declined to raise the fed funds rate.
The Fed also decided not to hike rates during April meeting due to economic uncertainty. June's meeting started to look like another rate hike would come but a disappointing jobs report nixed that increase. A mere 38,000 jobs were created in May, much lower than the forecast of 175,000.
The latest disappointing news that will prevent the Fed from hiking the rate is UK voters voting to leave the European Union. Ben Bernanke, the former Fed Chairman, wrote on his Brookings blog "clearly the Fed and other U.S. policymakers will remain cautious until the effects of the British vote are better sorted out."
There's no telling how long it will take for the ramifications of Brexit to be fully realized but fed fund rate hikes in 2016 are not going to happen. The latest nail in the coffin for rate hikes will leave savers with the same low deposit rates they have been coping with since the financial crisis of 2007/2008.
On a positive note, savings rates and money market rates haven't moved lower since the Brexit vote last Thursday. The same can't be said for U.S. Bond yields. Last Wednesday, 10 year bond yields were at 1.73 percent, yesterday 10 year yields fell to 1.46 percent. Listed below are yesterday's closing bond yields, the best savings rates and money market rates available in our database of rates.
U.S. Bond Yields as of June 28, 2016
Best Savings Rates as of June 28, 2016
Best Money Market Rates as of June 28, 2016
You can search for a list of the highest savings account rates and money market account rates at any time by searching our rate database at Highest Deposit Rates.Read more...
Compare East Boston Savings Bank's CD Rates With Other Bank Rates Below
East Boston Savings Bank Financials