The Incredible Falling Interest Rate

The Fed announced today that the fed fund rate would remain unchanged for the time being. So what does that mean for interest rates? So far online savings rates have stayed the same. E-Loan remains at 5.25% and Emigrant at 5.05%. In recent weeks, however, the CD rates at these two institutions have dropped to 5.26% and 5.10%, respectively. E-Loan had a huge drop from 5.41% to 5.26% over the last week or so, while Emigrant has been holding at 5.05%. My CD at Emigrant expires tomorrow, so what to do? Open an account at E-Loan and hold it at 5.25%? Or will the rates drop at E-Loan too and converge to the rate at Emigrant? Sigh.. Missing the rate hike!

or

I'll let you know!

One Love,
Look

Decisions, decisions... Which phone will you hear me now on?

So my Verizon contract is set to expire with my "New Every Two" discount kicking in May 10, 2007. While Verizon phones are notoriously worst in class of any provider (unfortunately they can get away with it by having the "best" network). So which phone to upgrade to? My current phone the Motorola E815 has served me well, but the antenna/reception in the last couple of months has been lacking. Verizon boasts the least dropped calls or whatever, but I seem to have tons of trouble getting reception here in Brooklyn.

Anywho, these are the two options I've been looking at:

LG VX8700

Pros: Pretty. Sleek. Slim. Lightweight.
Cons: Supposedly speakerphone works only w/ the phone open. Odd front screen.

MOTORAZR maxx VE

Pros: Sleek. USB port capability. Touchscreen face.
Cons: Bigger portfolio - shape and weight. Odd shape (haven't gotten used to that extra bottom nub on RAZRs).

Unfortunately I think the LG VX8700 is only available online right now. And since I'd like to actually see/feel the phone before I get it I think I may end up going with the MOTORAZR maxx Ve. As I ponder the decision I hope some new fangled phone comes out or the LG Vx8700 goes in stores so I can compare. I'll keep you posted.

One Love,
Look

And so it happens... Toyota #1

The 1Q results are in and after years perched on top of the automotive world, Detroit automaker GM was handily beaten by 90,000 units to rival Toyota. The results marked record results for both automakers, but was the first time Toyota outsold GM. Analysts expect similar results throughout the rest of the year as Toyota's finally achieves the dominance that seemed all but an eventuality. Should this occur, this will mark the first time in 76 years that GM was not the top automaker in the United States.

That being said, will Toyota be able to sustain its dominance? Even the mighty must fall and with Chinese upstarts, formidable South Korean players and the resurgence of American brands will Toyota be able to maintain its lead over the competition? As the Tokyo juggernaut rolls along, however, its stock (Toyota: NYSE - TM) seems to be a relative bargain at $125, down from a high near $140 mere months ago. As such, TM seems like a BUY and its dominance? Only time shall tell.

One Love,
Look

Interest Rate Roundup

I opened a couple of CDs at WaMu while I was in college and have since been rolling them over. My returns haven't been too great, with some of my earlier CDs locked in at rates around 3%, but recently trending around 5%. This weekend one of my CDs expired so I was forced with the decision of rolling it over again or pulling the money out. Interest rates at online banks have trended downwards over the past few months, so I decided to stay locked in another CD for 8 months with a rate of 5.10% APY.

My old faithful in online savings, Emigrant has served me well, but I think I held my money in these accounts for too long. Currently I have 2 CDs with 6 month maturities locked in at 5.20% APY and my regular savings account at 5.05% APY. In the past couple of days, the CD rate has fallen to 5.10% and I'm fearing a draw down on the regular savings account will soon follow.

That leaves me with E-Loan. I was late to jump on the boat when they were offering 5.50% APY on their online savings account out of sheer laziness on my part in my unwillingness to open yet another online account and shuffling money from Emigrant to my Citi Checking to E-Loan. In hindsight, I should've gone through with all the hassle for the better rate. Currently, they're offering 5.25% APY for their online savings account which is higher than any interest rate I currently have. Suffice it to say, my money is locked in various things and I'd have to do some money management/stop spending my paychecks to roll the $5,000 minimum into an E-Loan account. Boo. I guess better late than never, however, so in the coming weeks I shall do some portfolio shuffling and open yet another account. I'll report back later on my progress or lack thereof.

One Love,
Look

Nike Shox

So every now and again Footlocker comes out with their 30% off coupons which drives me to buy some new shoes. Lately, I've gone with some "fashionable" Pumas, but although they're quite flashy and cool they're wickedly uncomfortable.

As such, I'm thinking about getting a pair of Nike Shox. The ones I'm eyeing have a mesh shell (as opposed to the leather-ish type sneakers I have now) and are actually made to provide support and cushioning. After my two pairs of Pumas, I think its time to return to the good ol' swoosh. Hoping they'll come out with some better styles tho, as I'm not completely sold on the look. Seeing that my feet haven't been too comfy, I guess I'm willing to forgo the appearance for some feet pampering.

One Love,
Look

Hands on with the Garmin Nuvi 350

So I plopped down $400 or so for Garmin's Nuvi 350 from Amazon.com for my dad's Christmas gift a while back. At that time, it was one of the better rated models and was a steal considering other big box retailers were selling it for $500+. Since then, the price has come down as the model will probably be discontinued for its bigger and "better" successor the 660.

Some quick notes. The actual device itself is very lightweight and pretty easy to use. I thought the screen would be a little too small and clumsy, but it actually works quite fine. Switching between maps is sometimes a pain and I haven't quite gotten it figured out yet. The device works well, using mostly main roads (so side street detours can prove troublesome), but unfortunately it doesn't have any construction information about detours, etc. So if you are off the suggested route, you'll hear endless directions to try and put you on something where you can't go.

So far, so good, however. Further review after continued use.

One Love,
Look

The Incredible Shrinking Interest Rate... Citibank eSavings

If you've been paying attention to interest rates in the past few months, you've noticed they've leveled off after the Fed stopped raising its rate. Banks have quietly reduced the APYs offered on their accounts, with Citibank being the sneakiest (to me) of them all.

So without warning I've noticed the rates they offer have freefalled. From a high of 5.5% it decreased to 5.0% then 4.75% and now 4.65%. Having so many different webpages and different ways to access the site, I didn't even notice the decrease to the recent 4.65% rate until recently. I think they should show the rate on the login screen or at least show you the eSavings details including interest rate/APY when you log into your account.

As such, I've moved most of my money in the Citibank eSavings account to Emigrant Direct and locked in a CD at 5.20% APY. With its current trajectory Citibank will fall to a level of ING at which point I will take most of my money there out. The only reason I leave money in there is for bills and such. O wells. Citi, kiss my $$$ goodbye.

One Love,
Look