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I'm in the market for a house. What type of account should I keep my down payment in for the highest rate of return? I'll probably use the money in about a year.


At this point, with interest rates very close to their lowest levels on record, your money is going to be earning next to nothing. If you’ve already got the cash for the down payment and can leave the money alone for at least six months, a certificate of deposit will pay about 1.1 percent a year, according to
If you’re waiting for the right property to come along and want to be ready to pounce when it does, however, you would not want to lock up your money for a fixed period for a lousy 1.1 percent return. To ensure minimum risk and maximum flexibility, an interest-bearing checking account – yes, some still exist – seems a better way to go. lists a handful that pay around 1 percent a year, close to the six-month CD rate, have no fees and are federally insured.
-Conrad de Aenlle