Author Archives: Kevin Hunt

Mortgage Rates At Standstill

by Categorized: Banks Date:

Mortgage rates barely budged in the past week, with 30-year rates averaging 4.10 percent nationally and 15-year rates at 3.25 percent.
A 30-year rates are unchanged from the previous week. A week ago, 15-yer rates averaged 3.23 percent.

This week:
30-year: 4.10 percent
15-year: 3.25 percent

Last week:
30-year: 4.10 percent
15-year: 3.23 percent

A year ago:
30-year: 4.53 percent
15-year: 3.55 percent

Cash Or Credit? Under $5, It’s Still (Mostly) Cash

by Categorized: Credit Cards Date:

Americans prefer paying cash for purchases under $5 with cash, according to a CreditCards.com report, but that is changing,

From CrediCards.com:

>> Overall, 65% of Americans typically pay for purchases under $5 with cash. 22% use debit cards and 11% use credit cards.
>> But whereas 77% of people age 50 and older prefer cash, only 52% of people between the ages of 18 and 49 prefer cash.
>> Millennials (18-29 year-olds) are the only age group to prefer plastic over cash. They especially like debit cards (by a ratio of nearly 3-1 over credit cards).

Best Credit Cards For College Students

by Categorized: Banks Date:

The bottom Line is back from vacation. (Did you miss me?)

Capital One’s Journey Student Rewards card is rated as a top rewards card in CardHub.com’s annual survey of best credit cards for college students.
The card gives 1 percent cash back on all purchases and a 25 percent cash-back bonus when a bill is paid on time each month. That’s 1.25 percent back on each dollar spent — a better return than card’s offered to people with excellent credit.

Debt Collectors Call His Cell (Repeatedly); He Sues, Gets $30,000

by Categorized: Telecom Date:

hc-tbl-robocall-tcpa

It wasn’t such a good idea when Diversified Consultants Inc., a debt collection agency, started calling Jamie Davis of Cambridge, Mass., two years ago asking about an account belonging to someone named Rosalee Pagan.

Davis, obviously, was not Pagan. He told Diversified Consultants collectors that he did know her, never heard of her and did not want to hear about her, or from DCI, again. Yet the calls continued. From Aug. 1 to Nov. 12, 2012, Davis received 60 calls on his cellphone from the company’s collectors.

That’s illegal.

More . . .

Mortgage Rates Drop, Following Bond Yields

by Categorized: Banks Date:

Mortgage rates dipped in past week, following bond yields, as 30-year fixed-rate loans averaged 4.12 percent and 15-year rates averaged 3.24 percent nationally, according to data released Thursday morning by Freddie Mac.
A week ago, 30-year rates averaged 4.14 percent and 15-year rates averaged 3.26 percent.

Here are the numbers in New England:

This week:
30-year: 4.12 percent
15-year: 3.24 percent

Last week:
30-year: 4.14 percent
15-year: 3.26 percent

A year ago:
30-year: 4.42 percent
15-year: 3.46 percent

How To Make Gas Stations Honor Cash Price On Debit Purchase

by Categorized: Consumer Complaints, Credit Cards Date:

????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????
Today’s Bottom Line column:

Payment options, cash or credit, are marked clearly at local gas stations. But how does your local fill-up treat plastic cash, the debit card?

A debit card looks like a credit card, but banks treat it like a cash transaction. A consumer receives no “credit,” equivalent to a small loan, for any debit-card transaction. Debit is not credit.

Why, then, do some gas stations charge higher “credit card” prices for debit-card purchases? Because they can, according to state regulations, but only if they post signs on the face of the gas pump and at the cash register declaring the debit-as-credit charge.

More . . .

Mortgage Rates Higher, But Still Low-Low-Low

by Categorized: Banks Date:

Mortgage rates moved slightly higher in the past week, with 30-year rates averaging 4.14 percent nationally and 15-year rates averaging 3.27, according to data released Thursday by Freddie Mac.
The previous week’s rates: 30-year, 4.12 percent; 15-year, 3.23 percent.

The numbers in New England:

This week:
30-year: 4.14 percent
15-year: 3.26 percent

Last week:
30-year: 4.12 percent
15-year: 3.23 percent

A year ago:
30-year: 4.42 percent
15-year: 3.44 percent

Survey: Connecticut Makes A ‘Least Expensive’ List!

by Categorized: Banks Date:

When was the last time Connecticut appeared on a “least expensive” list? It’s ranked second in a 10 Cheapest States for Mortgage Rates survey released Monday by GOBankingRates and RateWatch.
Or maybe Connecticut is simply in the right place: Six of the 10 states with the most affordable rates are in the Northeast. (Six of the 10 highest rates are in the Midwest and Northwest.) Borrower demand, local property rates, default rates and unemployment are among the factors that influence rates regionally.

Least Expensive States:
Rank State Average Mortgage Rate
No. 1 Rhode Island 3.395 percent
No. 2 Connecticut 3.41 percent
No. 3 Nevada 3.459 percent
No. 4 Pennsylvania 3.551 percent
No. 5 Maryland 3.593 percent

Most Expensive States:
Rank State Average Mortgage Rate
No. 1 Nebraska 4.102 percent
No. 2 South Dakota 4.066 percent
No. 3 Wyoming 4.059 percent
No. 4 Vermont 4.020 percent
No. 5 Oklahoma 4.019 percent

GM Recalls Monte Carlo, But Not Hers Despite Ignition Failure

by Categorized: Banks Date:

hc-tbl-monte-carlo

This weekend’s Bottom Line column:

General Motors has recalled more than 15 million vehicles worldwide this year for ignition-related defects, but Shelley Hansen still doesn’t understand why it hasn’t recalled her (VIN) number yet.

GM’s massive recalls began in February with 2.6 million older vehicles for faulty switches the company has now linked to 54 crashes and 13 deaths. The latest recalls sound like those that preceded them: Weight on a key ring could push the ignition switch out of the run position, turning off the engine and disabling the airbags.

Hansen knows the feeling. Before the massive recall, she says, the ignition in her 2003 Chevrolet Monte Carlo shut down while her daughter was driving.

More . . .