Chic vs. Geek: It's hot.

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Nobody feels like doing much of anything in the blazing heat we’ve seen this week. But there’s always work to be done. So how do you cope?

CHIC (Pearl)

If you’re not lucky enough to have air conditioning at home — or you want to avoid sky-high electricity bills — pack up your laptop, don’t forget your charger, and head to the local coffee shop for an iced latte and free WiFi. You can always find a quiet corner to get work done. But don't get caught up chatting with other mobile workers!

GEEK (Kevin)

Whether you’re talking extreme heat or frigid cold temps, it’s all mind over matter for me. When it starts heating up, I picture myself on a cool island beach, enjoying a frosty beverage with my feet dipped in the ocean. You’d be amazed how easy it is to forget where you are and focus on anything from simple tasks to complex problems.

Average Rate or Fixed Mortgage?

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For first-time homebuyers, the choice of mortgage rates requires careful consideration. Don’t go with an ARM just for lower monthly payments. You may get more than you bargained for.

CHIC (Pearl)

Choosing an ARM may seem like a good idea when rates are low, but it’s always a gamble. A quick shift in the economy could send rates sky high, and you’re stuck riding the wave. If your ultimate goal is lower monthly payments, it might make more sense to choose a fixed-rate mortgage or look for a home with a lower price.

GEEK (Kevin)

Regardless of which rate you choose, you should also ask yourself how long you plan to live in the new home. If this is a “starter” home, you might be able to get away with an ARM, especially if rates are low and the economy is fairly stable. If you’re in for the long haul, a fixed rate is absolutely the safer bet for your finances.