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Post by p2plender on Jul 27, 2017 11:57:37 GMT
I reckon I've got sub 3% this last month!
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ahowlin
Member of DD Central
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Post by ahowlin on Aug 1, 2017 8:58:54 GMT
In my experience the advertised rate is misleading, with cash drag my return for July was circa 4% pa. At the moment there are too many lenders versus borrowers, probably that is not being helped by the bailout from RS. Still it's early days, I am happy to stay invested to see how this develops. Clearly they need to boost the borrowing side and try to get to a balanced situation.
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ben
Posts: 2,020
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Post by ben on Aug 6, 2017 15:50:34 GMT
Rate has gone down yet again, going down pretty quick now.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Aug 6, 2017 15:55:02 GMT
Rate has gone down yet again, going down pretty quick now. It can only fall unless GS change the system. It's ratcheted that way. surely nobody has any money waiting at market rate so it is nearly all at priority rate driving itself down.
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Post by beeje13 on Aug 6, 2017 16:05:44 GMT
Wow, looks like it is a 30 day moving average, and is dropping even quicker than 0.1%/month than I had thought previously
"The Market Rate is the volume-weighted average rate of the loans matched in the prior 30 days." In a scenario where matching is spread evenly across the month (I know it isn't), wouldn't it drop every 15 days providing all matched money is at priority rate.
We could be looking at 3% in just over a years time?!
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IFISAcava
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Post by IFISAcava on Aug 6, 2017 16:08:41 GMT
Rate has gone down yet again, going down pretty quick now. It can only fall unless GS change the system. It's ratcheted that way. surely nobody has any money waiting at market rate so it is nearly all at priority rate driving itself down. I think one has to see the initial 6.5% as a gradually reducing introductory offer. What isn't clear is the end game.
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IFISAcava
Member of DD Central
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Post by IFISAcava on Aug 6, 2017 16:12:06 GMT
And a reminder to everyone to cancel any orders at the old priority rate and redo at the new priority rate to avoid two weeks of cash drag.
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ben
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Post by ben on Aug 6, 2017 16:35:03 GMT
Not adding any money this month so will decide what my average is at end of month if it is still worth it or not.
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IFISAcava
Member of DD Central
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Post by IFISAcava on Aug 6, 2017 16:40:27 GMT
Not adding any money this month so will decide what my average is at end of month if it is still worth it or not. Sure - but even at 5.9% the rate is still a lot higher than eg AC 30-day notice account. For that sort of access/rate/low maintenance mix, where else would one go?
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liso
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Post by liso on Aug 6, 2017 17:14:52 GMT
and RS monthly rolling market today stands at 2.9%, which makes GS's 5.9% look attractive.
I do wonder if we will end up like RS, at sub 3%. I'll be long gone by then.
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mary
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Post by mary on Aug 6, 2017 17:45:40 GMT
Wow, looks like it is a 30 day moving average, and is dropping even quicker than 0.1%/month than I had thought previously "The Market Rate is the volume-weighted average rate of the loans matched in the prior 30 days." In a scenario where matching is spread evenly across the month (I know it isn't), wouldn't it drop every 15 days providing all matched money is at priority rate. We could be looking at 3% in just over a years time?! The last drop to 6% Priority was the 26th or 27th August, so not even 15 days. Only hanging on for my introductory bonus now as its too much effort, and definitely not the fire and forget platform I thought!
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nush
Member of DD Central
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Post by nush on Aug 6, 2017 18:44:39 GMT
pretty much the same for me but i might not even wait for the bonus
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Post by df on Aug 6, 2017 19:20:44 GMT
and RS monthly rolling market today stands at 2.9%, which makes GS's 5.9% look attractive.
I do wonder if we will end up like RS, at sub 3%. I'll be long gone by then. At some point, not long ago, it was 1.7%... GS can easily go down under 3% within a couple of years or earlier if they continue with RS model.
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ben
Posts: 2,020
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Post by ben on Aug 6, 2017 19:57:10 GMT
Not adding any money this month so will decide what my average is at end of month if it is still worth it or not. Sure - but even at 5.9% the rate is still a lot higher than eg AC 30-day notice account. For that sort of access/rate/low maintenance mix, where else would one go? You are not actually getting 5.9% as the loans are pretty short term, sometimes money is waiting a day or two to be lent out, that quickly reduces your return, had one the other week that took about 4 days to lend out granted that was longest but even still.
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Post by p2plender on Aug 6, 2017 21:24:56 GMT
Terrible model this one.
RS monthly can achieve 4% if you have time to watch and invest which is much more than GS pays with all the cash drag.
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