Minden Mortgage Rates and Information Online from competing Lenders

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Financial News
Daily Report - Baton Rouge Business Report
The U.S. economy has been in a recession since December 2007, the National Bureau of Economic Research said Monday. The NBER — a private, nonprofit research organization — says its group of academic economists who determine business cycles met ...

Two big banks cut mortgage rate - Edmonton Sun
TORONTO -- Two of Canada's big banks are cutting mortgage rates on a variety of terms, reflecting a drop in borrowing costs in the bond market, where banks finance their mortgage lending. The Royal Bank of Canada said yesterday it is cutting rates ...

Quiet day on TSX - Ottawa Sun
The energy sector was behind 1.2 per cent as the near-month crude oil contract slipped $3.73 to close at US$50.77 per barrel on the New York Mercantile Exchange. The Canadian dollar rose 0.63 cents to 81.63 cents US after surging 2.7 cents Monday. In ...

Banking blues - Ottawa Sun
As the worsening economic crisis threatens to leave ordinary Canadian families jobless, if not homeless, let us all shed a tear for the unimaginable suffering of the nation's beloved Big Banks. The Royal Bank of Canada (RBC), for instance, announced ...

U.S. agrees to massive Citigroup rescue - Edmonton Sun
WASHINGTON — Rushing to rescue Citigroup, the U.S. government agreed to shoulder hundreds of billions of dollars in possible losses at the stricken bank and to plow a fresh US$20 billion into the company. Regulators hope the dramatic action will ...

River projects planned - Leader-Herald
AMSTERDAM - Development plans continue to flourish as the Mohawk River undergoes a renaissance of sorts with more new projects being developed across Montgomery County. The river runs along more than 130 miles from the Utica area all the way to ...

Falling mortgage rates spur Nevada housing interest - KRNV
Mortgage rates dropping after federal action to take over Fannie Mae and Freddie Mac help to spur housing interest in Nevada. So says Rob Wigton of Minden, president of the Nevada Association of Realtors, whose agents are busier now. A check of ...

Ottawa boosts mortgage buyout by $50B - Edmonton Sun
TORONTO — The federal government will buy another $50 billion in residential mortgages to ease the credit crunch facing Canadian banks, Finance Minister Jim Flaherty said Wednesday. The move triples the amount of insured mortgages Ottawa can buy ...

Outlook for housing starts solid - Winnipeg Sun
OTTAWA — Canada Mortgage and Housing Corp. says housing starts in October fell compared with the previous month but better than economists had expected. The October number came in at 211,800 on a seasonally adjusted basis, which was higher than the ...

Former FDIC leader Hove optimistic for recovery, but when? - Lincoln Journal Star
Andrew “Skip” Hove, unflappable as you might wish a banker to be, has seen turmoil in the financial industry that in some ways was worse than what you’re seeing now. And in some ways it wasn’t. Now living in Lincoln, Hove was vice chairman of ...

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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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