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News about Mortgages:
Mortgage rates fall across the board - San Diego Union-TribuneRates on 30-year mortgages fell for a third straight week, dropping to the lowest level since mid-July. Freddie Mac reported that 30-year, fixed-rate mortgages dipped to 6.35 percent this week from 6.40 percent last week. It marked the third ...
US STOCKS-Job woes, Nokia fallout hit Wall St - Guardian UnlimitedNEW YORK, Sept 5 (Reuters) - U.S. stocks fell for a fifth straight day on Friday as a government report showing further deterioration in the U.S. labor market added to worries about the profit outlook and the impact of the housing slump on the ...
Century Bank CEO to discuss credit crisis at Thursday breakfast - Daily Evening ItemLYNN - Barry R. Sloane, co-president and chief executive of Century Bank discusses "The De-leveraging of America" at the Lynn Area Chamber of Commerce Sept. 11 business breakfast at the Porthole Restaurant, starting at 7:30 a.m. "Deleveraging refers ...
Where are they now? Colm Greally - IndependentCOLM Greally helped to set up Ireland Online , the country's first commercial internet service provider (ISP) in the early Nineties. Having worked in special education, he discovered the web after seeing two of his students with speech and hearing ...
Rate of Delinquent Mortgages Hits Record - Washington PostMortgage Bankers Association says 6.41 percent of borrowers are not paying on time, from 5.12 percent a year ago. (By David Zalubowski -- Associated Press) The share of mortgage borrowers who fell behind on their payments or lapsed into foreclosure ...
NSW an economic basket case - News.com.auNSW is facing a multi-billion dollar case of mortgage stress, NSW Premier Nathan Rees has declared - but he vows: "I will fix it". Treasury officials laid out the full horror of the state's budget crisis to the new Premier yesterday, confirming the ...
Washington to stabilize mortgage giants - Edmonton SunWASHINGTON -- A top House Democrat confirmed yesterday that the government is planning to intervene to stabilize troubled mortgage finance companies Fannie Mae and Freddie Mac. Representative Barney Frank (D-Mass.), the chairman of the house ...
Key is to pay bills on time - Baltimore SunA good credit score matters a lot now if you're in the market for a home loan and don't want a 10 percent interest rate. Lenders are much, much pickier than they were before being hit by the foreclosure wave. Two years ago, a 620 FICO score was ...
Stock & fund quotes - ninemsnNEW YORK, Sept 5 (Reuters) - U.S. stocks fell for a fifth straight day on Friday as a government report showing further deterioration in the U.S. labor market added to worries about the profit outlook and the impact of the housing slump on the ...
Jon Kyl - Chicago TribuneBarry C. Black was 8 when his mother returned to their West Baltimore home one day with a record album of two sermons by Peter Marshall, the famed preacher of Washington's New York Avenue Presbyterian Church.

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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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