08.03.21 It’s a Great Time to Refi! / Protect Your Catalytic Converter.

The Clark Howard Podcast

Clark Howard

Investing, Entrepreneurship, Business

4.6 • 4.9K Ratings

🗓️ 3 August 2021

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Due to the ongoing pandemic, interest rates have fallen back down and with them, mortgage refinance rates. How refinances and mortgages differ, and how to go about taking advantage of these historic low rates. / The number of thefts of catalytic converters has risen 10 fold in the past year. It’ll cost ya big. How you can help prevent this theft problem. Ask Clark topics include: Turo: 5 Things To Know About the Cheap Car Rental Service / How to Find the Best Deal on Cheap Internet Service / Streaming TV / How to develop an independent value for your vehicle after an accident / Clark Deals - Cell Phones & Smartphones - Get a FREE iPhone 12 mini with trade-in when you switch to Metro by T-Mobile \\ Want more money advice? Sign up for Clark’s free daily newsletter! Free Advice: Clark's Consumer Action Center Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's my pleasure to welcome you to the Clark Howard Show.
0:08.4	Our mission is to serve it and power you so you make better financial decisions in your
0:13.8	life.
0:14.8	In today's episode, one of the positives of a terrible circumstance, and that is the
0:21.8	severe outbreak of the Delta variant of COVID, is that interest rates have gone back down
0:29.5	which means that mortgage rates have fallen to incredible levels.
0:35.5	So cheap, it's hard to believe.
0:37.8	I'm going to talk about that coming up.
0:41.3	The other thing is another odd thing that's happened over the last year, the number of
0:49.2	thefts of a key component of people's vehicles has gone up 10 times over in the last year,
0:58.5	and it'll cost you big time.
0:59.8	I want to talk about what's happening, how it costs you so much money, and how you might
1:06.2	prevent the theft problem from your vehicle.
1:10.4	So mortgage rates are falling through the floor because of this latest outbreak of COVID.
1:20.9	What had happened was interest rates had started rising on mortgages, and now they have
1:26.6	come way back down.
1:29.6	In fact, it's crazy when you look at what's being quoted in the marketplace, 15 year
1:35.5	refies for people with really good credit scores.
1:40.2	A lot of them, the first digit is starting with a one.
1:45.1	Can you imagine like 1.875 percent?
1:47.8	I mean, it's nuts, the average is around 2.5 percent on a 15 year refi, about 3.8 on
1:58.6	a 30 year refi, but again, shopping around makes a huge difference with a refi.
	...

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