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Mortgage rates dip below 6 percent - Mojave Daily NewsWASHINGTON - Rates on 30-year mortgages dropped sharply this week, falling to the lowest level in five months, as the government's dramatic takeover of mortgage giants Fannie Mae and Freddie Mac had the hoped-for impact of lowering mortgage rates ...
Stocks rally on plan for mortgage giants - Mojave Daily NewsNEW YORK - Stocks rallied Monday as investors placed bets that a recovery in the financial and housing sectors is more likely to occur following the U.S. government's move to bail out mortgage giants Fannie Mae and Freddie Mac. The Dow Jones ...
Police Blotter - San Jose Mercury News600 block of Mohave Drive, 3:10 p.m. Wednesday Three suspected intruders who bolted when a woman returned home were located several blocks away and arrested. 5500 block of Monterey Road, 4:15 p.m. Wednesday A man who entered a store claiming to need ...
Life lessons you can bank on - Yuma Daily SunA local banker raised the interest rate to the old adage "A penny saved is a penny earned" when he explained to high school students how being penny-wise toward credit could earn dividends over a lifetime. Jeffrey Byrd, assistant vice president and ...
Sheehan Challenges Fed with Impromptu Street Theatre Protest - OpEdNews.comIn her latest campaign update, Cindy Sheehan has launched an overnight attack against the proposed 700 billion dollar Wall Street bailout by taking her protest right to the steps of San Francisco’s Federal Reserve Bank today 4 pm, Thursday Sept. 25 ...
The Democratic And Republican National Convention Speeches, As Seen ... - WiredIt's all over: Years of planning, hours of speech-writing, millions spent on creating the venues to host thousands of Democratic and Republican convention attendees. What remains are the words that the politicians spoke (or didn't), and the promises ...
City may tighten taxi rules - Havasu News-HeraldPassenger safety in a cab or shuttle in Lake Havasu City may be a little more of a guarantee if the City Council passes a new taxi ordinance Tuesday. The ordinance would place more requirements on cab and shuttle services. The State of Arizona has ...
Obama Sets Up Debate Camp in the Sunshine State - New York Times BlogsDAYTONA BEACH, Fla. – Senator Barack Obama is heading to camp next week in Florida – debate camp, that is. Mr. Obama is going to sequester himself near Tampa Bay beginning Tuesday for intensive preparation in advance of the first presidential ...
Acceptance Speech: McCain vows shakeup - Cleveland Plain Dealer BlogST. PAUL, Minn. -- Sen. John McCain, declaring that "change is coming," accepted the Republican Party's presidential nomination Thursday night by describing how his life as a military veteran, political maverick and consensus-builder prepared him to ...

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Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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