Did IB's interest rate go up?

[beefcaketrade]

I just checked today and for under $100K loan its 1.5% + benchmark rate, making it 1.9% per year.

From memory, I recall it used to be 1% + benchmark rate right?

When did it go up?

 

[MoreLeverage]

I was able to confirm that it was this way at least 6 months ago, so maybe it's just your recollection? Fed Funds did go up, from around 0.15% (in the "0-0.25% range") to recently 0.40% (in the "0.25-0.50% range"). Maybe that accounts for the higher rate you're seeing?

 

[recession2016]

I just checked today and for under $100K loan its 1.5% + benchmark rate, making it 1.9% per year.

From memory, I recall it used to be 1% + benchmark rate right?

When did it go up?

yeah it did unfortunately, still better than all big brokers though

 

[beefcaketrade]

Could be my recollection. Last time I checked the rates on the IB page it was probably a year ago and even then, it could have been 1.5% also and I am mistaking it.

Yeah, fed funds rate did go up, but even IB's cut I always thought it was closer to 1% than 1.5%. Anyway, it is what it is. Just want to keep current with the setup.

 

[beefcaketrade]

yeah it did unfortunately, still better than all big brokers though

Oh, when did this transition happen?

It is slightly better, but at this point only around 1% off from even good HELOC or line of credit rates some people can get at around 3-4%.