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.

Related Posts:Best Mortgages Still As Low As 5.25%Top Mortgage Rates Fall Back Toward 5%4.875%, 30-Year, Fixed-Rate MortgagesMost Mortgage Rates Steady To LowerMortgages For 4.875% With No Points

Reap 2.5% Returns With Best 2-Year CDs

Tennessee Commerce Bank grabbed the top spot in our September rankings of the best 24-month CD rates.

It’s mid-August rate hike to a 2.50% APY makes it the best-paying, nationally-available 24-month certificate of deposit we can find.

As recently as July you could still find at least one bank paying 3% on 2-year CDs. But that’s no longer the case, with the national average for these investments dropping to a near-record low 1.47% APY last week.

The top deals currently available to all savers are:

2.50% APY with a $2,500 minimum deposit from Tennessee Commerce Bank, which has a single location in Franklin.

2.50% APY with a minimum deposit of $50,000 or 2.40% APY with a minimum deposit of $500 for “Silver CDs” from Frontier Bank, which has 50 branches in Washington and Oregon.

2.43% APY with a minimum deposit of $2,500 or 2.48% APY with a minimum deposit of $25,000 from Wedbush Bank, which has one branch in Los Angeles.

2.40% APY with a minimum deposit of $5,000 from OneWest Bank, with 33 branches in Los Angeles area.

Frontier led our August survey with slightly higher returns — 2.70% APY with a $50,000 minimum deposit and 2.60% APY with a $500 minimum deposit.

Click here to compare these deals with the best CD rates from dozens of other banks in our extensive database.

Related Posts:Tennessee Bank Boosts 24-Month CD RatesEarn 2.4% With Wedbush’s 2-Year CDsBest Savings Accounts Pay Over 2% APYWashington Bank Tops 24-Month CD Rates11-Month CD Special Offers 2.78% APY

Washington Fed Pays 2.50% On 2-Year CD

Here’s another example of the competitive CD rates we’re finding in the Pacific Northwest.

Seattle-based Washington Federal Savings is paying a 2.50% APY on a 24-month CD with a minimum deposit of $1,000.

If this deal was nationally-available, it would be near the top of our rankings of the best 24-month CD rates.

But it’s not and you can’t apply online.

To open an account you’ve got to visit one of Washington Federal’s 124 branches in eight Western states.

This certificate of deposit is also available at a couple of banks it owns — First Mutual Bank, with 13 branches in Washington, and First Federal Bank, with 13 branches in New Mexico.

Since Washington Federal doesn’t even post CD rates on its Web site, call your local branch to confirm it’s still being offered before making the trip.

Click here for the address and phone number of the one nearest you.

You can use our extensive database of CD rates to compare this offer with the best deals from scores of banks.

Related Posts:Competition Spurs CD Rates In NorthwestWashington Mutual Bank 6.00% 13-Month CDWashington Bank Tops 24-Month CD RatesWaMu’s Top 6-Month CD RatesChase Checking Account $100 Bonus