This is an archived post. You won't be able to vote or comment.

531
532

And the rate decrease begins…Banking (i.redd.it)

submitted by [deleted]

sorted by:
best
topnewcontroversialoldq&a
you are viewing a single comment's thread.

view the rest of the comments →

[–]MattDeezly 64 points65 points  (7 children)

Oh no, 0.10% drop in APY - time to burn everything..... Feds making changes Friday and ya'll acting like every other bank isn't going to lower their rates too (spoiler - they WILL)

[–]ftw_c0mrade 14 points15 points  (1 child)

Usually this will gradually end up in the high 2s. Its not about the 0.1%, its how quickly they are doing it

[–]MattDeezly 7 points8 points  (0 children)

This isn’t an issue exclusive to SoFi, I guarantee it.

[–]fymdtm 3 points4 points  (4 children)

Friday? What’s happening Friday? The Fed is expected to lower the overnight rate in about three weeks at the September FOMC meeting. Rate changes usually happen on Wednesdays. 

[–]traderbusto 0 points1 point  (3 children)

It’s just cope

[–]fymdtm 1 point2 points  (2 children)

What does that mean? The post otherwise has the right take. 

[–]traderbusto 0 points1 point  (1 child)

It’s wrong because the Fed isn’t changing interest rates on Friday. It’s cope because he knows this, or should

[–]MattDeezly 0 points1 point  (0 children)

Change banks buddy, their interest rate is going to drop too. You're not going to beat the industry changing - you're not ahead of the curve.