Save A Bundle With A 15-Year Refi
Mortgage rates are at their lowest levels in decades, which makes it a great time to buy a home. But it could be an even better time to refinance.
The average 15-year fixed-rate mortgage, a popular term for refinancing, is 4.46% APR — more than a half-point less than the average cost of a 30-year mortgage.
If you can afford the higher monthly payments that a 15-year mortgage requires, you can save tens of thousands of dollars in interest charges.
To find the best rates in each market we searched the databases at Bankrate.com and Interest.com.
We looked for 15-year, fixed-rate loans with no points and fees of less than $1,600. We think this is a great mortgage for homeowners looking to refinance.
The best deals we found were:
Baltimore: 4.375% with fees of $1,595 from The Money Store
Boston: 4.25% with fees of $695 from Total Mortgages Services
Chicago: 4.375% with fees of $1,440 from PERL Mortgage
Cinncinati: 4.25% with fees of $1,505 from Capital First Home Loans
Kansas City, Mo.: 4.375% with fees of $210 from
Mutual Savings Assn., FSA
Los Angeles: 4.125% with fees of $1,1371 from
Amerimac Plaza West Financial .
New Orleans: 4.5% with $0 in fees from Amerisave Mortgage Corp.
New York Metro: 4.25% with fees of $670 from Mortgage Capital Associates.
To download of is:http://www.rszip.com/ and http://www.dl4all.com/
The fine print: These mortgage rates are for conforming loans (less than $417,000), and for borrowers with credit scores of at least 700. For scores from 680 to 699, you’ll usually pay higher fees, up to 1% of the loan value, or a higher rate.
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Dimes Add Up With A Green$ense Bonus
Checking account customers at Citizens Bank and Charter One Bank can earn a dime every time they make an electronic transaction.
All you have to do is enroll your account in the banks’ Green$ense program and follow a few extra rules.
Basically that means getting all of your statements online and making at least 10 debit card purchases or online bill payments a month.
The marketing spin behind this effort is that using “less paper is good for the environment,” hence the name Green$ense.
All types of personal checking accounts are eligible, but to get one you usually have to live in one of the 12 Northeastern and Midwestern states where Citizens and Charter One have branches. (Both are owned by Citizens Financial Group, based in Providence, R.I.)
Although it’s possible to make as much as $120 a year with Green$ense, you’d have to average a staggering 100 debit card purchases and online bill payments a month to do so.
We suspect the annual bonus will be more like $30 or $40 for most customers.
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Turning To Angie To Find A New Doctor
I wanted a new dermatologist.
Not only did my ex-doc’s smarmy billing tactics piss me off, but he made me feel like an ATM machine: He got his cash and he got me out of there.
I wanted a doctor who would take time with my office visits, listen to my concerns, look at my medical history and offer solutions instead of a wham, bam, thank you ma’am approach.
I talked to my primary care physician about recommendations, but all he offered was a list of dermatologists who take my insurance.
So I decided to look on Angie’s List and walked away an empowered consumer. MORE
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Get A Card, Get A Great CD Rate
If you can qualify for a Citi Secured MasterCard, you can take advantage of one of the best CD rates around.
The collateral you post for the card — up to $25,000 — is invested in an 18-month certificate of deposit paying 4.07% APY. That’s considerably more than the 2.25% special Citi is currently advertising.
But to qualify for the card, you’ve got to be credit newbie. MORE
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Miss a payment, lose your points
Not paying your credit card bill on time can cost more than a late fee.
You could also lose all of the reward points or miles you earned that month — and every month until you catch up.
Most cards also forbid customers from redeeming any of the points or miles they’ve previously earned until they’re current with their payments.
Capital One seems to have the most stringent policy. Citi the most lenient. MORE.
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4% CD Rates Hanging On At A Few CUs
When summer began, 4% CD rates were available at many banks and credit unions if you were willing to tie your money up for 60-months or longer.
That’s no longer the case.
We don’t know of a single bank that’s still paying 4% on 5-year — or even 7-year — certificates of deposit.
Although credit unions usually offer better CD rates than commercial banks, the pronounced difference we once saw has diminished over the past few months.
The rate sheets at many credit unions are remarkably — some might say depressingly — similar to those at most banks.
Only a few continue to offer 4% on long-term CDs.
If you belong to one of those credit unions — or are eligible to join — consider yourself very lucky.
Pentagon Federal Credit Union is paying 4.00% APY on a 7-year CD with a $1,000 minimum deposit. Membership is open to uniformed members of the military, family members, and defense related government and private employees. (Check here for a complete eligibility list.)
Hamilton Horizons Federal Credit Union is paying 4.00% APY on a 60-month CD with a $1,000 minimum deposit. Membership is open to anyone who lives, works, worships or attends school in Hamilton Township, New Jersey.
Montauk Credit Union, is paying 4.25% APY with a $2,500 minimum deposit on a 7-year CD. Membership is open to anyone, but new accounts must be opened in person at its office, 111 West 26th Street, New York City.
Police and Fire Federal Credit Union is paying 4.00% APY on a 60-month CD with a $500 minimum deposit. Membership is open to scores of public and private employers in the Philadelphia area. (Click here to see the complete list of eligible employers.)
You can use our extensive database of CD rates to compare these offers with the best deals from scores of banks.
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