In Search of Better Rates

Ben Bernanke & Co. at the Federal Reserve have been slashing benchmark interest rates in hopes of saving the economy from recession. Lower interest rates are great when it comes to things like credit cards and mortgages. But if you're trying to earn some money on your cash in a savings account or certificate of deposit, it's a different story.

Not that long ago online banks were offering rates on savings accounts at 5% or more. In recent weeks, they've cut rates to less than 4%. That's still a good deal when compared with many brick-and-mortar bank savings accounts. But if you're shopping around to score the highest rate possible, check out Bankrate.com. You can search for the highest rates for savings accounts and CDs nationwide. And if you are looking to benefit from the Fed's rate cuts, you can also search the site to find the lowest rates on mortgages and credit cards.