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  • Magnitude-4.0 Quake Near Seabeck

    quake91714A magnitude-4.0 earthquake rattled the Puget Sound in Washington state early Wednesday. The earthquake was centered near the town of Seabeck in Kitsap County, about 40 miles west of Seattle. The shaking was felt as far away as Everett, Olympia and… Read More +

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  • Everett Optometrist Arrested On Molestation Charges

    obrien-courtEverett police say an optometrist molested a 10-year-old girl during an examination, and detectives suspect there may be more victims. Police spokesman Aaron Snell says 33-year-old John P. O'Brien of Bellevue was arrested on suspicion of first-degree child molestation on Tuesday… Read More +

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  • Mariners Rout Angels 13-2

    mariners newsMike Zunino's two-run double keyed a four-run fifth inning and the Seattle Mariners climbed within a game of the second AL wild-card spot by routing the Los Angeles Angels 13-2 on Tuesday night. The Mariners haven't been to the postseason since 2001, when they won 116 games under manager Lou Piniella and tied the major league mark set by the 1906 Chicago Cubs.

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Gap Between Interest Rates and Savings Rates Widens

b_250_0_16777215_00_images_obgrabber_2013-08_178a8b15b1.jpgHemera/Thinkstock (NEW YORK) -- The cost of a 30-year fixed rate home loan has jumped from 3.5 percent in February to about 4.7 percent in the past three months.  But the gap between the rate banks charge borrowers and what savers get is growing. "While it has become more expensive to borrow money, when it comes to actually growing wealth there's still no opportunity there in terms of interest rates offered," says Casey Bond of gobankingrates.com.

People who rely on bank savings accounts are getting virtually no return.

"Right now the average interest rate on say a savings account in the U.S. is 0.11 percent," says Bond.  

That's well below the rate of inflation.

Copyright 2013 ABC News Radio

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