I love how the APR is not given when looking for interest rates, geez. If they did, savings rates would be lower and loan rates would be higher. Those Bastards.

Green for you OP

Downey sent me a 6.25% "new customer" CD promo

Is there a link to that CD or this targeted?

timothy86 said:Is there a link to that CD or this targeted?

This is targeted. They will give you the rate if you bring in the letter.

Their regular rates are nothing spectacular.

Great offer if you have a letter!

thanks for the information OP

If you could get a no points loan at this rate, you might invest it for a couple of years in the 6.35% jumbo share certificates mentioned here (from another post):

Text

Total income from 2 years on this scheme would be optimized at $7,287. If that's better than the closing costs (and it's likely not), you're golden. You'd have to sell your house to your wife or somesuch (and avoid capital gains, etc.), but it might be possible.

If interest rates went up in the next two years, you'd be doing better and better over the course of the 30 years as long as you could pay the mortgage payments for the first two.