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Germany and China feel the pain of global downturn - Reuters India
LONDON (Reuters) - Germany is in recession and China's industry output growth has waned to its weakest in seven years, data from the world's top exporting nations showed on Thursday, providing further evidence of a global economic slide. Adding to ...

Rudd pumps $10.4 billion into economy - ninemsn
The Rudd government has gone on a massive $10.4 billion spending spree in a bid to spare Australia the worst effects of the global economic crisis. Pensioners, families and first home buyers are the big winners under the government's strategy that ...

We can avoid deficit: Treasurer Wayne Swan - The Australian
THE Rudd Government believes it can get through the next year without being forced into deficit, but plunging financial markets show investors are already trading on the basis that the economy is heading for recession. Wayne Swan yesterday defended ...

Optimistic Australians defy global gloom - Sydney Morning Herald
KEVIN RUDD and the Labor Party are approaching their first anniversary in power more popular with the electorate than at the last election, according to the latest Herald /Nielsen poll. Even amid signs the global financial crisis is worsening, a ...

Leaders meet to discuss global financial crisis - Taipei Times
US President George W. Bush, right, stands with Australian Prime Minister Kevin Rudd at the start of the G20 summit in Washington on Friday. World leaders prepared to adopt an early warning system for financial calamities, a commitment to tougher ...

We can avoid deficit: Wayne Swan - News.com.au
THE Rudd Government believes it can get through the next year without being forced into deficit, but plunging financial markets show investors are already trading on the basis that the economy is heading for recession. Wayne Swan yesterday defended ...

Labor's $2 billion bid to save car yards - The Australian
CAR dealers facing closure because of a credit drought sparked by the global financial crisis could be underwritten by a $2 billion Rudd Government-sponsored debt guarantee. With the immediate operations of many new-car dealers threatened by the ...

Australia's interest rates tipped to hit 3.75pc - News.com.au
Analysts tip rates to fall dramatically "3.75 per cent by March" Recession-buster rate cut INTEREST rates could be soon be halved with analysts tipping a 3.75 per cent rate by March so the Government can steer the country away from recession. If the ...

Australia honors 645 sailors lost in WWII sinking - Buffalo News
Tearful relatives of sailors lost in a World War II sea battle threw flowers into the sea on Wednesday as Australia marked the 67th anniversary of the sinking of the HMAS Sydney - the first since the ship was found on the ocean floor after decades of ...

Bush Warns 'Too Much' Government In Markets - The Bulletin
President George W. Bush on Thursday urged leaders of the world's biggest economies not to abandon free-market capitalism as they seek an escape from the financial crisis, calling it the "best system" for delivering growth. In a speech at the ...

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Today's Mortgage Terms starting with L

  • Lender: The bank, mortgage company or mortgage broker providing the loan.
  • Loan Application: A statement of personal and financial information needed to apply for a loan.
  • Loan Application Fee: A fee applied by a lender to cover the initial costs of putting through a loan application. The fee could include the cost of getting a property appraisal, a credit report and a lock-in fee and other closing costs incurred to complete the transaction.
  • Loan Origination Fee: Fee charged by a lender for the administrative costs of processing a loan.
  • Loan to Value Ratio (LTV): The balance of the mortgage outstanding as a percentage of the home's price.
  • Lock or Lock In: A lender's guarantee of an interest rate for a specific period of time. The time period is usually between the loan application approval and loan closing. The borrower wants the lock to stay in effect until closing.
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