General Discussion

mrmpa

(4,033 posts)

37. I agree with you about.........

Thu May 9, 2013, 01:01 AM

May 2013

home repairs needing to be made.

My Mortgage holder offers for $40 a month a protection plan, it covers

AC System, Furnace/heating system, electrical system, plumbing system and stoppages, faucets, toilets, water heater, ceiling fan, garbage disposal, garage door opener, refrigerator/ice maker/water dispenser, built in dishwasher, cook top, range, oven, range exhaust hood, built in trash compactor, built in microwave, clothes washer and dryer and accessible ductwork.

If I need a repair on any of these, the cost is $75 that is even if the system is replaced.

I purchased the plan, because my ac and furnace units are about 15 years old and probably will need replaced within the next 5 years, the cost of the plan that I will have spent is less than what a new system would cost.

I have all ready had two calls for repairs to my furnace. The cost of one repair if I did not have the protection plan would have been $641.86.

I think this is a smart program for the bank to offer, because it protects their investment. It is also good for the home owner, because it may be easier to find an extra $40 a month rather than $600 or more for a one time repair.

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Bank CD rates...WTF? [View all] Bonobo May 2013 OP

You are correct, not long ago, interest rates for CD's were much more than now. It's been about.... northoftheborder May 2013 #1

Ever since the Fed reduced rates back in 2009 (I think it was) the Fed rate has been zero. It costs upaloopa May 2013 #2

That's it mainly RobertEarl May 2013 #11

No that's exactly right Yo_Mama May 2013 #14

Pretty dramatic, isn't it? Except for the high unemployment, inflation would be killing us. BlueStreak May 2013 #31

Great post. I thought a similar thing when the housing bubble burst. Bonobo May 2013 #32

I agree with you about......... mrmpa May 2013 #37

It isn't the value of the house that increases, it is the land under the house depending JDPriestly May 2013 #44

Well, to be fair it is both. Bonobo May 2013 #45

In LA that house would be bought in a heartbeat abelenkpe May 2013 #76

Bubbles are impossible to fix Yo_Mama May 2013 #54

I suppose the argument is that you can slowly let the air out of the balloon BlueStreak May 2013 #58

Without honesty we can't fix anything Yo_Mama May 2013 #61

"Right of Reagan". It is too early for a drink? BlueStreak May 2013 #63

The government Yo_Mama May 2013 #66

I don't think most people realize the importance of the Judiciary BlueStreak May 2013 #67

Exactly right. "It's the wages, stupid." n/t lumberjack_jeff May 2013 #34

Without a circulation mechanism Yo_Mama May 2013 #53

This is exactly right. And nobody wants to speak of it. nt BlueStreak May 2013 #60

It's too terrifying and it would force a change in policies Yo_Mama May 2013 #62

That's an interesting question. Is the market forming a bubble? BlueStreak May 2013 #64

Yes, it is in a bubble Yo_Mama May 2013 #68

I'm not really seeing the bubble in your charts BlueStreak May 2013 #72

Future PE ratios will be considerably worse Yo_Mama May 2013 #82

I agree with you, but maybe for a different reason BlueStreak May 2013 #84

In a macro sense that is an excellent analysis Yo_Mama May 2013 #87

Yu're remembering right. Same thing with the interest rates on money mkt. napi21 May 2013 #3

The DOW went over 15,000 for the first time in history... Bonobo May 2013 #4

in the 1980s mortgages were over 12 percent onenote May 2013 #8

I see the connection, but... Bonobo May 2013 #10

It would be a pretty poor business proposition onenote May 2013 #17

Yes, I see... Bonobo May 2013 #18

But . . . the difference between the lending rate and the deposit rate should not be JDPriestly May 2013 #42

But banks aren't lending most of their money Yo_Mama May 2013 #65

Thanks. Essentially, as I see it, the problem is that the U.S. cannot compete with the cheap JDPriestly May 2013 #90

No - see my other post - banks don't need to compete with the stock market for money Yo_Mama May 2013 #15

Would you consider this FED behavior... CoffeeCat May 2013 #28

All of this is Munificence May 2013 #50

K&R, and welcome to DU Munificence! riderinthestorm May 2013 #70

CDs are to attract deposits so banks can make loans BlueStreak May 2013 #33

Stinks, try some credit unions they have been better.... Historic NY May 2013 #5

I looked at two local credit unions about a month ago. No better than the banks. nt snappyturtle May 2013 #6

There aren't any great options for the person who grew up on CDs. Be very careful. BlueStreak May 2013 #85

My regular saving account used to be five percent abelenkpe May 2013 #7

Christ allmighty... have I been asleep on this? Bonobo May 2013 #9

You got it........ RagAss May 2013 #13

Banks don't invest in the stock market Yo_Mama May 2013 #19

Isn't that precisely what the Glass Steagal Act was all about? nt Bonobo May 2013 #20

"Oh, honey I guess we need to invest in stock market just to keep up with inflation". CountAllVotes May 2013 #38

And you haven't mentioned the computer trading which pushes the prices up artificially. JDPriestly May 2013 #41

Anyone under age 50 is in your same position abelenkpe May 2013 #77

15-year mortgage rates hit new low Fla_Democrat May 2013 #12

Ah, I see... Bonobo May 2013 #16

I'd have to go over the charts Fla_Democrat May 2013 #21

Actually it is more like: in order to force investors into the stock market Warren Stupidity May 2013 #23

Banks have made a killing off of homeowners refinancing... CoffeeCat May 2013 #26

There has been talk defacto7 May 2013 #22

This week on CNBC... CoffeeCat May 2013 #24

I'm not an expert, but I think the whole thing with the stock market is a scam. JDPriestly May 2013 #40

+1000 Blue_Tires May 2013 #59

How much of the boom/bust dynamic is a result of fed policy? dkf May 2013 #81

Actually, the boom/bust cycle plagued our economy during the second half of the JDPriestly May 2013 #89

The fed is supposed to mitigate these moves but instead they exacerbate it lately. dkf May 2013 #95

If interest rates had remained at the average for the last fifty years. Silver Swan May 2013 #25

If you get I-Bonds they pay about 1.75% still_one May 2013 #27

No the 0% one just reset to 1.18% effective May 1 - Oct. 31 CountAllVotes May 2013 #48

I forgot, ever 6 months, it was 1.75%. at least they have inflation protection still_one May 2013 #49

When I bought these 0% they were paying 4.6% (May 2010) CountAllVotes May 2013 #55

You are correct. still_one May 2013 #91

I've been in banking a long time... TexasPaganDem May 2013 #29

Having near zero interest rates also keeps treasury bond rates low. dkf May 2013 #30

Excellent Point Yupster May 2013 #71

The banks are being financed by the Fed. And rich people don't put money in banks anymore. reformist2 May 2013 #35

I think it's time to buy real estate again. lumberjack_jeff May 2013 #36

You aren't seeing things. Bank rates are shockingly low. JDPriestly May 2013 #39

This seems to be a trend in many countries Art_from_Ark May 2013 #43

And considering the Japanese govt. is PLANNING for a healthy inflation rate Bonobo May 2013 #46

Yup, screwed Art_from_Ark May 2013 #47

An inflation rate of 1-2% is more connected with a growing economy than deflation. Nations are very byeya May 2013 #51

It's not that Japan isn't prosperous, Art_from_Ark May 2013 #94

Funny you should mention that. Le Taz Hot May 2013 #52

That must have been the 1980's early on CountAllVotes May 2013 #56

The Key to Having Zero Interest Rates and Moderate Inflation Is To Cut Labor Prices Yavin4 May 2013 #57

So when is the stock market bubble going to burst? rusty fender May 2013 #69

That is the proverbial $64,000 question... truebrit71 May 2013 #73

Not going to happen this year for sure.....possible fall 2014 but more likely fall 2015. cbdo2007 May 2013 #74

Message auto-removed Name removed May 2013 #75

Reagunomics in the 1980s CountAllVotes May 2013 #79

Not if they're not lending... brooklynite May 2013 #78

savers are being screwed by the FEAR of interest rates. greenspud + bernanke are killing savings. pansypoo53219 May 2013 #80

CD rates are killing savers. dawg May 2013 #83

Message auto-removed Name removed May 2013 #86

That describes me to a T. llmart May 2013 #93

Interest rates have been cut to basically nothing, that's why. Warren DeMontague May 2013 #88

Ally bank savings account is 0.84% hugo_from_TN May 2013 #92