In the midst of all the bad news surrounding adjustable-rate mortgages, and despite the fact that mortgage rates aren’t anywhere near as low as people would like them to be, ING Direct is mass mailing about their ARM:

A mortgage without surprises

We believe you have the right to a mortgage that fits your needs and isn’t filled with surprises. That’s why we offer the 7/1 Orange Mortgage:

• Low Closing Costs and No Bank Fees
• Options that match most homeowners needs
• Save thousands during the initial fixed rate of 7 years

On average, Americans keep their mortgage for no more than 7 years. Why not fix your rate for the amount of time you plan to live in your house or keep your mortgage?

See for yourself how we stack up against the competition:

Lender	Rate	Points	APR
ING DIRECT	5.875%	0.000	5.953%
Countrywide	6.625%	0.000	6.262%
Wells Fargo	7.500%	0.125	6.741%
E-Loan	6.750%	0.969	6.427%
Indymac	6.750%	0.000	6.333%

Sources: Bank sites as of 6/24/08. 7/1 Adjustable Rate Mortgage Annual Percentage Rates based on a $235,000 mortgage. APRs include common and customary closing costs. Rates may change at any time.

HSBC Direct
Here’s a recurring thought that makes saving even simpler.
Make saving even easier by transferring money automatically to your Online Savings Account on a regular basis. It’s simple to set up.
And, you can take advantage of our big fat rate. Especially now that it’s a portly 3.50% APY*, available through August 15, 2008.
Recurring Bank–to–Bank transfers […]

From an email dated June 2, 2008. It’s about time the rates start going up again.

HSBC Direct.
Great news. Your rate has gone up.
The last time I wrote to you, I told you how committed we are to helping you get the most from your money and reach your savings goals faster.
Well, even as the […]

Keeping you updated on rate changes.
In these challenging times, having a savings plan is more important than ever. At HSBC Direct we are committed to helping you with your savings goals by providing the best rate we can.
As you are undoubtedly already aware, there has been a general trend of reducing interest rates in the […]

The rates continue to slip. Everyone is now below 3.60% except for Apple Bank’s Grand Yield Direct account which is still offering 4.25%.
We are writing to inform you that based on the recent drop by the Federal Reserve, HSBC Direct has adjusted your Online Savings Account rate to 3.55% APY*. At 8x the national […]

Another email from HSBC announcing another rate decrease, this time to 3.80% APY. VirtualBank is at 3.30% and up and ING Direct is at 3.65%. The Apple Bank for Savings is still leading with 4.25%. I just wish the Apple Bank would spend some money on a more confidence-building web site.
We […]

Another email from HSBC to coincide with the lowering of their Online Savings Account rate. That’s down into VirtualBank and ING Direct territory, and well below Apple Bank’s Grand Yield Savings account. It looks like I’m going to have to switch away from HSBC. I was content when they were within a […]

Wow, MB has a really good deal on an interest-bearing checking account. The 5.00% APY rivals rates on a number of online banks, and the $5,000 minimum account balance is realistic and attainable. This is an account I’m thinking about opening myself.
MB Interest Checking is the Best Deal in Town!
MB Financial Bank’s Interest […]

An email from ING Direct, dated January 31, 2007, announcing the new Electric Orange checking account. It has your standard online bill pay that everyone offers, but also a number of pretty interesting and unique elements. For one, this is not an entirely paperless checking account. You can write checks from the […]

With a cash-back rewards earning credit card and a simple strategy, it’s possible to save 3-5% on virtually everything you buy. The first thing you need is a credit card with cash-back rewards. The most common of these offer 3% cash back on purchases at grocery stores, drug stores and gas stations, but […]