After the most recent Fed rate cut, several online banks have quickly lowered their rates. These include:

1. GMAC Bank’s Money Market Savings dropping from 4.75% to 4.50%
2. Countrywide’s SavingsLink dropping from 5.50% to 5.35%
3. Presidential Bank’s Premiere Savings dropping from 4.90% to 4.60%
4. Bank of America’s Money Market Savings from 4.45% to 4.29%
5. ING Direct’s Saving Account from 4.30% to 4.20%

With falling interest rates and no end in sight, it may be wise to lock in a high CD rate while you still can.