When I first moved to the US I was setting up my first US bank accounts. The credit union bragged about how high there savings account interest rates were. My

When I first moved to the US I was setting up my first US bank accounts. The credit union bragged about how high there savings account interest rates were. My honest reply was to say I was surprised they gave monthly rather than annual interest rates. When they corrected me to say that it was the annual interest rate I laughed, this was a savings account with fees even. Unsurprisingly the interest rates on everything other than mortgages was in line with those in NZ. Mortgage rates were vastly lower, but 4 or so years later the economy collapsed due to terrible mortgage practices.