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News about Mortgages:
Financial News
Financial crisis: Nearly 600 mortgage deals are scrapped in a week - Daily Telegraph
At the start of the week there were 3,983 home loans available on the market, but this had fallen to 3,402 by the end of business on Friday, the lowest number ever recorded by MoneyFacts, the personal finance research publisher. The data also shows ...

Mortgage lending slumps says Bank - BBC Business
Banks and building societies lent an extra £143m in home loans last month, just 5% of July's lending figure and only 2% of the lending in August 2007. August is traditionally the quietest month for house sales. But house buyers may have been put off ...

Can FHA shoulder loan burden? - Chicago Tribune
In the current credit squeeze, if you have less than a 20 percent down payment, there's pretty much only one major source of mortgage financing available: FHA, the Depression-era home loan insurance agency that still offers 3 percent down, 30-year ...

House buyers win 1 per cent rates reduction - News.com.au
THE share market plunged upon opening this morning and Federal Treasurer Wayne Swan has spoken out in the wake of yesterday's rate cuts. While homebuyers are celebrating in the knowledge they will get about $160 a month slashed from their mortgage ...

House price fall biggest in 17 years - Reuters UK
LONDON (Reuters) - House prices fell 1.7 percent in the month of September to post their biggest annual drop since comparable records began in 1991, the Nationwide building society said on Thursday. Interest rate futures rallied as investors ...

House price predictions - Guardian Unlimited
Each month several house price surveys are published which draw together data from recent sales and show which way the market has been moving. Off the back of these, housing market commentators make predictions about where house prices will move next ...

Cantor Fitzgerald CEO says bailout only a 1st step - Reuters
NEW YORK, Oct 2 (Reuters) - Cantor Fitzgerald Chief Executive Howard Lutnick, who runs one of the world's largest bond brokerages, said the U.S. bank bailout plan is a positive step, but only one step in the longer effort to revive financial markets ...

Bailout not a panacea for housing market - AZCentral.com
WASHINGTON - The federal government's $700 billion bailout of the financial industry could help homebuilders and mortgage lenders, but is unlikely to bring fast relief to anybody trying to buy or sell a house anytime soon. The Treasury Department's ...

Housing equity withdrawal turns negative in Q2 - MSN UK News
LONDON (Reuters) - Housing equity withdrawal turned negative in the second quarter for the first time in a decade as falling house prices and rising mortgage rates turned off a key source of consumer finance. Bank of England figures showed households ...

UPDATE 1-UK housing equity withdrawal turns negative in Q2 - Forbes
LONDON, Oct 3 (Reuters) - British housing equity withdrawal turned negative in the second quarter for the first time in a decade as falling house prices and rising mortgage rates turned off a key source of consumer finance. Bank of England figures ...

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Today's Mortgage Terms starting with F

  • Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans.
  • Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending.
  • FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers.
  • First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages.
  • Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan.
  • Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default.
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