Jan 5, 2012 I bought a condo in Bozeman, Mont., 7 years ago using a 5/1 ARM. When the 5-year period ended, I let it roll over into a 1-year ARM because the rate went down from 4.5 to 3.25. Then, last year, I did the same -- only from 3.25 to 3 percent. Come March, the 1-year period will expire again and I wonder if I should let this happen again, since rates will probably be low. Or should I bite the bullet, pay approximately $2,500 in closing costs to lock in a low rate for 15 or 30 years, but make higher payments? (My payments are ridiculously low.) Cindy, West Yellowstone, MT
Jan 4, 2012 President Obama bypassed the Senate and appointed Cordray as the head of the CFPB. Yet, legal challenges will likely follow.
Dec 23, 2011 Mortgage lenders will pay higher fees to Fannie and Freddie to guarantee their loans. That pays for the extension of the payroll tax cut.
Dec 15, 2011 My question is, if your mortgage rate is higher than what you could expect from investing, wouldn't it make more sense to pay on the mortgage? This is almost the same as the concept of paying off the credit card with the highest rate first. What are your thoughts on this? John, Rapid City, SD
Dec 15, 2011 Three banks unveil a new three-page checking account guide. Experts hope a new era of simplified disclosure will follow.
Jan 11, 2012 Lots of not-so-terrible news was enough to put markets in positive territory today, but not by much. It gives us a chance to take a step back and talk about something different. Bonds.
Dec 9, 2011 U.S. Senate Republicans blocked former Ohio attorney general Richard Cordray's appointment as director of the CFPB. The new bureau is a centerpiece in the Dodd-Frank financial reform law.
Dec 9, 2011 We talk to one of our Washington reporters about what happened in the news this week.
Dec 8, 2011 The consumer bureau was supposed to be a key part of Congressman Frank's financial reform law, the Dodd-Frank act. He talks about his frustration with Republicans who voted to block the confirmation of a director.
Dec 7, 2011 Republicans are trying to block the appointment of Richard Cordray as director of the CFPB in preference of a commission; Democrats say it's a fight against consumer protection.