Emigrant Drops Rate to 5.05% on September 30

Is it time to start locking in your CD's? The general opinion is that the FED might do a rate cut during the first quarter of next year. Emigrant just dropped their rate, this may be a sign of what to expect from other rate leaders. I received an e-mail that said that effective September 30, 2006 the rate will drop to 5.05%. Bad news for all Emigrant Savers.