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New cash infusion in housing spurs hope - Philadelphia Inquirer
Will the Federal Reserve's latest effort to jump-start the housing market work? For the first time since summer, real estate agent Deborah Gould said yesterday, she has good reason to be hopeful. The Fed pledged Tuesday to purchase $600 billion in ...

EDITORIAL: New gimmick won't solve budget crisis - Packet Online
Back during the 1990s, then-Gov. Christie Todd Whitman used an accounting trick to balance the state’s budget while slashing state income taxes. She revalued the state’s pension accounts, saying the booming stock market of the Clinton years meant ...

Shopping Season for Uncle Sam - Barron's Online
THE GOVERNMENT'S LATEST INTERVENTION IN financial markets -- the $800 billion plan unveiled last week to boost lending to consumers and trim mortgage rates -- hasn't been much more successful than its earlier efforts. While rates on home mortgages ...

Opinion divided on Federal Reserve's lending programme - Gulf News
Economic historians consider the recent actions of the US Federal Reserve as strange. "Very, very unusual," says Allen Sinai, chief economist of Decision Economics, an economic consulting firm. "Unprecedented ... uncharted." The nation's central bank ...

Parents fight cancer for ‘Angel Emma’ - Bluefield Daily Telegraph
PRINCETON — Emma Ruth Vannatter’s family believes she was born to be an angel. Just weeks after complications from leukemia took the little girl’s life, her mom finds comfort knowing that her “Angel Emma” doesn’t hurt any more. After ...

Business Briefs - Elk River Star News
M&I Bank recently broke ground for a new location at the intersection of Diamond Lake Road and Rogers Drive in Rogers. The new office is scheduled to open in 2009. The new M&I Bank location will be a full-service branch with a business banker ...

RealMoney.com: Market Commentary - Street.Com
The market celebrated Thanksgiving with the best weekly advance in 34 years. The 12% gain was the most since 1974. The S&P 500 is now up 19% from its recent low, although still off 43% from its high reached in October 2007. All it took was for the ...

Fed Actions Have Immediate Effect - Street.Com
The move by the Federal Reserve Tuesday to enter the market and buy both the debt of the government sponsored entities and mortgage-backed paper had an immediate and dramatic effect. The Fed will buy $100 billion of the direct obligations of the GSEs ...

It's the system, stupid! - Daily Princetonian
Anyone who wonders how Wall Street leaders can live with themselves after what they have done to our country and the world should watch Charlie Rose's Nov. 25 interview with Citigroup CEO Vikram Pandit. Curious students should also read a Nov. 29 ...

U.S. readies up to $800B to spur loans - Toledo Blade
WASHINGTON - The federal government said yesterday that it will use up to $800 billion to make it cheaper for Americans to get a home mortgage, take out a car loan, or borrow money through a credit card. The new weapons against the financial meltdown ...

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Today's Mortgage Terms starting with D

  • Default: Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.
  • Discounted Loan: When the note rate on a loan is lower than the market rate, it is a discounted loan.
  • Discount Point: A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.
  • Down Payment: The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.
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