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15-year mortgages up by 7.5% from last year
From January through June of this year, 26% of homeowners who refinanced opted for a 15-year mortgage, up from 18.5 % in 2009. The significant spike may be the result of historically low interest rates, but Amy Crews Cutts, deputy chief economist for Freddie Mac, believes that people are starting to think differently about debt (Amy Hoak, “Paying Off the House in 15 years,” WSJ). “For the average person, debt is a drag on their psyche as well as their overall budget,” says Cutts.
Paying off a home mortgage in 30 vs. 15 years requires more money up front but puts more equity in the pocket at the end of the loan term. If you plan on keeping your home for an extended period, you have substantial savings, and your debt-to-income ratio is less than 35%, a 15-year term may be a good option. However, borrowers who don’t meet the criteria may be better off choosing the 30-year term and paying extra payments toward principal throughout that period.
Rubber tires and bathroom sinks
Can trash be recycled into bathroom sinks? One Santa Monica design firm has found an innovative way to transform rubbish into something very useful. Minarc is getting ready to market their green sink, created entirely out of discarded tires.
Old rubber tires are melted down and stretched thin over a desired frame. The result is a bathroom sink that looks ultra-modern.
According to Calfinder Nationwide Remodelers, the top of the rubber sink weighs less than 1 pound and is an eighth of an inch thick. The lightweight material is a terrific option for vanities that cannot hold a granite or porcelain sink.
When it’s made available to the public, the rubber sink could become the new trend of bathrooms everywhere.
How To Maintain Your Lawn In The Fall – Lowes.com
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The “Screen Invasion”
Technology is touted as a gift of the 21st century. NPR’s Fresh Air interview (”Digital Overload: Your Brain On Gadgets”) with Matt Richtel, Technology Reporter for The New York Times, encourages us to think about technology and information in a more balanced way.
The average person today consumes about 3 times the amount of information as somebody living in 1960. Based on his study of technology’s effect on people’s minds, Richtel suggests that the more the brain has to multitask on computers and digital gadgets, the more distractible one becomes. When you check your information (email, phone, etc), you feel a buzz or “dopamine squirt.” The net effect is that an individual becomes wired to seek that stimulation, thereby compromising his or her ability to focus.
Richtel says, “After 20 years of glorifying technology as if all computers were good and all use of it was good, science is beginning to embrace the idea that some technology is Twinkies and some technology is Brussels sprouts.”
Now that’s food for thought. Listen to the interview in its entirety at npr.org.
The pressure assisted toilet
How many gallons of water does your toilet need for one flush? If your toilet was purchased before 1992, that number is likely 3 – 5 gallons. If purchased in 1992 or later, it would be 1.6 gallons. But newer toilets using advanced technology require only 1.1 gallons of water to do the same job! That’s just about the amount of water that will fill a big milk jug.
The new pressure assisted toilets can save a family of four approximately 8,000 gallons of water, according to Bob Formisano’s post in About.com. Both the environment and the family save big.
If you’re shopping for a new toilet, consider the pressure assisted toilet. It may cost you more up front, but the long-term savings could be worth the investment.
