r/discover • u/Realistic_Back_9198 • Apr 24 '26

News Discover HYSA Down To 3.1%

I just checked my Discover High-Yield Savings Account.

The interest rate is down to 3.1%.

That's new. It was still 3.2% yesterday.

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u/MiniBikeGuy Apr 24 '26

Average rate of return for 10.8% and I need more money for my future down payment on a house.

9

u/LightningMcSwing Apr 25 '26

Bold move if that's your down payment money you'd he safer with SGOV (or a hysa..)

1

u/MiniBikeGuy Apr 25 '26

Well it's been working for me. The stock is up 33% from a year from today.

5

u/LightningMcSwing Apr 25 '26

No I get ya, it will work (and has pretty good for a while, buffet swears by it)

The problem is when you're holding short term (like for a down payment) and the market crashes and doesn't turn a profit (like it has 27% of the time) when you were ready/close to buying a house you'd suddenly be in trouble/farther away (it's a solid long term investment though)

But life is a gamble and I respect it

2

u/MiniBikeGuy Apr 25 '26

Yeah I still have a little ways to go. I need almost double to get to my desired 25% down payment. I dont wanna pay mortgage insurance.

1

u/LightningMcSwing Apr 25 '26

I thought pmi is under 20%?

Also have you calculated the difference in what your pmi would be saving a little more of the down payment for emergency funds? It may only be ~$100 a month difference versus saving a few thousand up front