Wamu was offering a 12 month cd online with an add on feature for 5% last week. Best I’ve seen. They also have deals at the branch level for thsoe who are willing to speak to the manger and have a 90 K to put down.
I would be very careful with Washington Mutual. Their corporate bonds are having a yield to maturity of 28.675% and a coupon rate of 4.0%. Maturity date 1/15/2009. I think you could call this a death-watch rate? WaMu is trying to get capital in fast… It is easier to pay out on the CD rates than the Bond rates. If WaMu needed to float bonds, it would have to match the current 28.7%+/- rate. Payout on 5% is easier.
