“There’s no earthly reason why we should be unable to get more than 0.5% interest on our savings,”
The reason is that interest rates are very low. If you want to lock in for a year you get only 1.4%.
Interest rates on “some things” are low.
The same bank that charges you 17-30% on your CC, will only give you 0.5% on savings.
If you know of one that pays 1.4, that’s better than I expected.
Sure household loan rates are low. I agree with that.