Just a quick note to record that sometime between Wednesday and today, ING Direct lowered the yield on their Orange Savings Account to 1.40% APY.  Their previous rate change in early March had established a 1.50% APY, so this is only a 0.10% cut.

From looking at my previous posts about ING Direct rate cuts, it appears that things may be close to a bottom? I say this because it’s been almost 3 months since the last change and the current change is only 0.10% APY.  The previous change was a drop by 0.20% where the previous rate was only good for TWO WEEKs.  As recently as December, 2008 the rate was 2.75% APY.  But between then and March, there were at least 4 rate changes.  This last rate had been good for about 3 months.

BTW, here’s a link to a page where you can see all of ING’s rates for all of their products.