Laurie Stewart
President and CEO
Sound Community Bank
While borrowers are getting pinched by rising rates of interest, senior savers are seeing meaningful returns the very first time in decades, former ABA Chair Laurie Stewart said within an interview on NPR's \”Marketplace\” program yesterday.
Stewart acknowledged that interest rates for mortgages have doubled since the beginning of the year. \”But the point I was going to make would be that the deposit rates have more than doubled,\” she told host Kai Ryssdal. \”They're like 1,000 times higher. You inquired about about your mom's CD last time we chatted. If she called her bank today-at least, if she called our bank today-what six months ago would have been a quarter of the percent on the six month CD is now over 3%. So that's real money for savers.\”
Stewart also discusses the intersection of rates and residential prices. She's appeared numerous times on \”Marketplace\” in the last three years to supply commentary and understanding of how community banks are answering economic trends.
