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News about Mortgages:
Fannie Mae, Freddie Mac Mortgage-Bond Yields Tumble (Update2) - BloombergDec. 4 (Bloomberg) -- Yields on Fannie Mae, Freddie Mac and Ginnie Mae mortgage bonds fell as Treasury Secretary Henry Paulson considers a plan to push home-loan rates down to 4.5 percent to curb the yearlong U.S. recession. Yields on Washington ...
Mortgage rates post largest drop in 27 years - ReutersNEW YORK (Reuters) - Interest rates on U.S. 30-year fixed-rate mortgages plummeted by the largest amount in 27 years this week after an unprecedented intervention by the Federal Reserve, data from home funding company Freddie Mac showed on Thursday ...
Home builders' shares soar as mortgage rates plunge - ForbesNEW YORK (Reuters) - Shares of U.S. home builders rose Thursday as the beleaguered sector, floundering amid a protracted downturn, extended a six-day rally spurred by the largest drop in interest rates on 30-year fixed-rate mortgages in 27 years ...
UPDATE 2-US mortgage rates post largest drop in 27 years - FXStreet.comNEW YORK, Dec 4 (Reuters) - Interest rates on U.S. 30-year fixed-rate mortgages plummeted by the largest amount in 27 years this week after an unprecendented intervention by the Federal Reserve, data from home funding company Freddie Mac showed on ...
US housing market slump to last despite rise in opportunists - Gulf NewsNew York: The lowest mortgage rates in three years are luring first-time buyers and cost-cutting refinancers, but falling home prices and mounting unemployment will keep US housing in its deepest slump since the Great Depression. Applications to buy ...
Long View: Low yield bonds - Financial TimesEarlier this decade, policymakers viewed low long-term bond yields as a “conundrum”. Now, with the global economy sinking and deflation looming, low bond yields are part of the solution. The health of the financial system can be gauged by a look ...
Rates fall for 2nd day in row - Knoxville News SentinelMIAMI - Mortgage rates fell for the second day in a row Wednesday ahead of the Thanksgiving holiday and could be heading toward levels homebuyers and owners haven't seen this year. That drop is what the Federal Reserve was aiming for when it ...
Lower mortgage rates aren't the answer - CNN MoneyNEW YORK (CNNMoney.com) -- The government finally realizes that it has to address the problems in the housing market. Unfortunately, it seems officials are considering going at it the wrong way. According to several reports, the Treasury Department ...
First Mortgage Supports LIFT Scheme - PR.comEdinburgh, United Kingdom, November 29, 2008 --( PR.com )-- It’s harder than ever to get a foot on the housing ladder but First Mortgage is one organisation that is committed to offering first-time buyers a chance to own and afford their own homes ...
Fed Aid Sets Off a Rush to Refinance - Wall Street JournalThe Federal Reserve's attempt to stabilize the housing market set off a chain reaction across the U.S. on Tuesday, dropping interest rates and quickly spurring a burst of refinancing activity by borrowers eager to lower their mortgage costs. Some ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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