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American Morning
Minding Your Business: Refinance, Fly to Mexico for Free
Aired July 07, 2003 - 07:47 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
BILL HEMMER, CNN ANCHOR: Here is Andy Serwer. Good morning to you.
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning to you.
And welcome, Soledad, to CNN.
SOLEDAD O'BRIEN, CNN ANCHOR: Thanks.
SERWER: We've got the welcome wagon coming later on...
HEMMER: Yes, we do.
O'BRIEN: Oh, good.
(CROSSTALK)
SERWER: ... with some gifts, some AMERICAN MORNING gifts.
O'BRIEN: Oh, I love that, yes.
SERWER: Yes, we're going to be doing that.
HEMMER: You get more than coffee cups this time.
SERWER: Yes. Anyway...
HEMMER: So, refinance and fly for free.
SERWER: Yes.
(CROSSTALK)
SERWER: I think it's a good deal. You know, you refinance or get a house, fly to Mexico for free. I mean, these are two of America's greatest pastimes, right? Frequent flyer miles and refinancing. This is a thing from Wells Fargo and American Airlines, where they're giving you 10,000 miles for every 100,000 your refinance.
Here's how it works. So, you refinance or you buy a house let's say for $300,000, you 30,000 miles free. That's about how much a round trip ticket in the U.S. or even the Caribbean or Mexico costs. And it's retroactive back to June. So, what's not to like? I mean, you get a quarter point, pick up a quarter point, reduce your payments and fly out. I'm loving this.
HEMMER: I think it's a great idea.
A market preview quickly. Bulls still running or not?
SERWER: Yes, they are. And this is kind of a surprise, you guys, because a lot of people expected the market to continue strong until the end of the quarter, the second quarter, and then to sort of tail off into July. But instead, you see here the first week we've been moving up and futures are strongly moving this morning as well. Optimism in Japan. I'll say that again. Optimism in Japan.
HEMMER: Wow!
SERWER: Jack is shaking his head, because...
JACK CAFFERTY, CNN ANCHOR: For what?
SERWER: ... he's been following it for a long time. I have no idea.
HEMMER: Twenty years in fact.
SERWER: Yes, I mean, we're seeing a little creeping back, so it's spreading over here this morning. So, stocks are higher.
HEMMER: Good deal. Thank you, Andy.
SERWER: OK.
HEMMER: We'll see you a bit later.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Aired July 7, 2003 - 07:47 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
BILL HEMMER, CNN ANCHOR: Here is Andy Serwer. Good morning to you.
ANDY SERWER, "FORTUNE" MAGAZINE: Good morning to you.
And welcome, Soledad, to CNN.
SOLEDAD O'BRIEN, CNN ANCHOR: Thanks.
SERWER: We've got the welcome wagon coming later on...
HEMMER: Yes, we do.
O'BRIEN: Oh, good.
(CROSSTALK)
SERWER: ... with some gifts, some AMERICAN MORNING gifts.
O'BRIEN: Oh, I love that, yes.
SERWER: Yes, we're going to be doing that.
HEMMER: You get more than coffee cups this time.
SERWER: Yes. Anyway...
HEMMER: So, refinance and fly for free.
SERWER: Yes.
(CROSSTALK)
SERWER: I think it's a good deal. You know, you refinance or get a house, fly to Mexico for free. I mean, these are two of America's greatest pastimes, right? Frequent flyer miles and refinancing. This is a thing from Wells Fargo and American Airlines, where they're giving you 10,000 miles for every 100,000 your refinance.
Here's how it works. So, you refinance or you buy a house let's say for $300,000, you 30,000 miles free. That's about how much a round trip ticket in the U.S. or even the Caribbean or Mexico costs. And it's retroactive back to June. So, what's not to like? I mean, you get a quarter point, pick up a quarter point, reduce your payments and fly out. I'm loving this.
HEMMER: I think it's a great idea.
A market preview quickly. Bulls still running or not?
SERWER: Yes, they are. And this is kind of a surprise, you guys, because a lot of people expected the market to continue strong until the end of the quarter, the second quarter, and then to sort of tail off into July. But instead, you see here the first week we've been moving up and futures are strongly moving this morning as well. Optimism in Japan. I'll say that again. Optimism in Japan.
HEMMER: Wow!
SERWER: Jack is shaking his head, because...
JACK CAFFERTY, CNN ANCHOR: For what?
SERWER: ... he's been following it for a long time. I have no idea.
HEMMER: Twenty years in fact.
SERWER: Yes, I mean, we're seeing a little creeping back, so it's spreading over here this morning. So, stocks are higher.
HEMMER: Good deal. Thank you, Andy.
SERWER: OK.
HEMMER: We'll see you a bit later.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
