Delta Matches Airfare Sale & Opting For A 15 Year Mortgage

8:53 AM, Jun 21, 2011   |    comments
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Monday, June 20, 2010

On the Business Beat our focus is on an airfare sale, and the Metro Atlanta mortgage market.

Delta matching AirTran this morning in its latest airfare sale with discounted fares in competing markets.

You have until June 28 to get the tickets and you can use them through November 15.

There are blackout dates and travel restrictions, so look things over carefully before you buy anything--the tickets are nonrefundable.

And a new twist in homeowners trying to hold on to their equity and keep ownership of their homes.

As foreclosures loom, many owners are negotiating lower interest rates to keep their existing mortgages but many more are cutting their interest rates entirely by going from 30 year conventional to 15 year loans.

One homeowner tells Bloomberg News that by going that route she paid down more principal in the past 10 months than in 6 previous years.

The mortgage industry is calling these homeowners "equity builders," as they may pay more per month but they are adding considerable equity to what they own each day.

Two incentives say researchers for getting a 15 year loan, are cutting the number of interest payments and taking advantage of record low 15 year interest rates.

And when it comes to rates, Metro Atlanta's home mortgage rates continue this week at record lows.

The best 15 year rate, for those who want to refinance or get a new loan is set at 3.625% to 3.75% and no points, while in the longer term; the best 30 year rate is fixed at 4.375% and no points.

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