Personal Finance Daily: A 40-year mortgage comes with loads of interest

	Personal Finance Daily JULY 27, 2012 Friday's Personal Finance stories By MarketWatch Don't miss these top stories: 40-year mortgage? That's a lot of interest Make a smarter tax move on IRA rollover Why the Fed will look past rising food prices Warren Buffett's winning ways, 50 years on Facebook shares still way overvalued Those trying to score the lowest monthly mortgage payment possible might think a 40-year fixed-rate mortgage is the way to go. After all, people are living longer now than they were back in the day when the 30-year fixed-rate mortgage was first introduced. But in his Realty Q&A column today, Lew Sichelman explains why he'd never opt for a mortgage term longer than 30 years. The biggest reason: You'll pay a heck of a lot more in interest. Also, check out MarketWatch's Olympics blog , featuring an entry by Jennifer Waters, who explains why some London hotels are slashing their room rates. Opening ceremonies for the Summer Olympic Games are today. —Amy Hoak , Personal Finance writer 40-year mortgage? That's a lot of interest A 40-year loan does have some advantages. The main drawback, of course, is that over 40 years, you'd pay a whale of a lot more interest, Lew Sichelman writes. 40-year mortgage? That's a lot of interest. Make a smarter tax move on IRA rollover In most cases, the strategy of rolling over a company retirement plan payout into an IRA is a good idea. That way, you can continue to defer taxes on the rolled-over balance—as well as future income earned on that balance—for as long as you leave the money in the IRA. Make a smarter tax move on IRA rollover London hotels at bargain prices during Olympics The 2012 Olympic dreams aren't panning out for some of London's hoteliers who are slashing prices by 30% to 60% on rooms still unclaimed, according to travel sites. London hotels at bargain prices during Olympics. ECONOMY AND POLITICS Why the Fed will look past rising food prices The drought that is tightening its grip on the Midwest is expected to lead to higher food prices but won't stop the Fed from easing again, analysts said. Why the Fed will look past rising food prices. Explaining the GDP report in five charts A graphical look at the gross domestic product reports of the U.S. and the U.K. released this week. Explaining the GDP report in five charts. July consumer sentiment at lowest point of year Despite a slight upward revision from the preliminary report, a gauge of consumer sentiment in July came in at the lowest point of the year. July consumer sentiment at lowest point of year. U.S. growth slows to 1.5% in second quarter The U.S. economy took a turn for the worse in the spring as consumers pared spending and businesses invested at a slower pace, with little sign that growth will accelerate sharply anytime soon. U.S. growth slows to 1.5% in second quarter. Fresh insight into U.S. recession, aftermath The recession of 2007-2009 wasn't quite as deep and the ensuing recovery wasn't nearly as fast as initially believed, according to newly revised government data. Fresh insight into U.S. recession, aftermath. Reactions to GDP: 'Troubling' but not a surprise Roundup of comments from analysts and lawmakers to Friday's news that gross domestic product rose at a tepid 1.5% clip in the second quarter. Reactions to GDP: 'Troubling' but not a surprise Conservatives undermining our economic recovery World economic events may be out of our control, but U.S. policy makers have a choice to fix our economic situation at home, writes economist Adam Hersh. Conservatives undermining our economic recovery. Back to basics: Advice for cities in fiscal crisis A former mayor writes that cities and other local governments need to get back to basics, spending only what they can afford while reaffirming the value of public service to our communities. Back to basics: Advice for cities in fiscal crisis. INVESTING Warren Buffett's winning ways, 50 years on Seen with the benefit of 50-year hindsight, Warren Buffett's shareholder letters from the early 1960s hold valuable lessons for today's investors, who face a global economy on the brink, if not of disaster, then certainly of profound change. Warren Buffett's winning ways, 50 years on. Drought-resistant funds for parched investors The harshest U.S. drought in more than half a century is forcing fund and ETF investors to consider ways to profit from the higher commodity prices and to protect their portfolios from market sectors that could suffer. Drought-resistant funds for parched investors. Inflation fears boost TIPS funds Investors seek protection from inflation even as worries about global growth, falling oil prices and the possibility of deflation dominate the market's attention. Inflation fears boost TIPS funds. Three big takeaways from Facebook's call Despite meeting Wall Street's estimates, Facebook's first earnings report showed three worrisome signs, writes John Shinal. Three big takeaways from Facebook's call. Deconstructing the Barclays conundrum Barclays PLC is dealing with another scandal due to its embrace of Wall Street culture, but Friday's results show why the tarnished management team liked to break through boundaries. Deconstructing the Barclays conundrum. Solar start-up founder blames politics A venture capitalist behind Abound Solar says election-year politics doomed the company's effort to develop a new technology for solar panels, Al Lewis reports. Solar start-up founder blames politics. Facebook shares still way overvalued There's nothing in Facebook's latest earnings report to suggest that a fair value estimate for the stock of $13.80 needs major revision, writes Mark Hulbert. Facebook shares still way overvalued Two questions for Sir Richard Branson Sir Richard Branson tells the story of how a young war protester became a billionaire with a passion to save the world, Thomas Kostigen reports. Two questions for Sir Richard Branson. Get the latest news on our mobile site: http://www.marketwatch.com/m MarketWatch has sent you this newsletter because you signed up to receive it. To ensure you receive this newsletter in the future, please add marketwatchmail.com to your list of approved senders. Sent to: kumaresan.selva.blogger@gmail.com Unsubscribe | Subscribe Copyright 2012 MarketWatch, Inc. All rights reserved. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. By using this site, you agree to the Terms of Service and Privacy Policy (updated 6/26/07). MarketWatch - Attn: Customer Service, 201 California St., San Francisco, CA 94111