Originally Posted by
Scott P
Maybe so, but the only ones who are benefiting from the increase are the banks and money lenders. Everyone else loses (even if you don't have debt).
I have also noticed now that interest rates have risen for loans, paid interest hasn't really risen with it.
Since there are a lot of Utahns here, checking the website Zions Bank for example, says they pay 0.06% interest on savings accounts and 0.02% on checking accounts. It's almost nothing, but still better than the 0% they pay here. Of course if you want to borrow money, the are very happy to charge you a higher interest rate (which is why I hate debt and try to avoid it).