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UPDATE 2-US mortgage rates post largest drop in 27 years - ReutersNEW 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 ...
Falling mortgage rates can't thaw other credit - WTOP RadioNEW YORK (AP) - Rates may be falling for residential mortgages and the securities backed by them, but there hasn't been a similar loosening in other strained areas of the credit markets. Rising rates on corporate bonds and commercial mortgage-backed ...
Nationwide follows Halifax lead over rate cut - Belfast TelegraphNationwide tonight followed the lead of its rival Halifax and said it would pass on today's interest rate cut to its tracker mortgage customers in full. The building society's tracker deal contains a so-called collar, stating that once interest rates ...
Real estate investors decry four-loan limit - Atlanta Journal ConstitutionAtlanta-area real estate investors, like their counterparts around the country, say a new four-loan limit is keeping good buyers away from foreclosed properties — and could actually prolong the recession. The new policy, which limits to four the ...
Bond Expert: Thursday Wrap - Seekingalpha.comPrices of Treasury coupon securities surged today as the explosive rally continued in advance of the Labor report tomorrow morning. The yield on the 2 year note dropped 6 basis points to 0.83 percent. The yield on the 3 year note dropped 7 basis ...
On Native Ground - American ReporterDUMMERSTON, Vt. -- President-elect Barack Obama clearly won the 2008 presidential election because of the market meltdown. While John McCain and Sarah Palin were refighting the culture wars of the 1960s, Obama turned his campaign into a referendum on ...
Mortgage rate drop sparks surge in consumer interest - San Jose Mercury NewsBorrowers descended on the home loan industry Wednesday after the federal government's latest move to shore up the financial system sparked a sharp drop in interest rates. Valley brokers said business picked up immediately as rates dropped from 6 ...
Lenders slow to pass on interest rate cut - The IndependentMortgage lenders were slow to respond to today's 1 per cent interest rate cut with just four groups saying they would be reducing rates for their borrowers. HSBC, Lloyds TSB, Barclays' lending arm the Woolwich and Bristol & West all said they would ...
John Key looks at ways to help small businesses cope - New Zealand HeraldPrime Minister John Key says the Government is working on a plan to help small and medium businesses cope with the recession. Any further steps to relieve the strain of the economic downturn were likely to focus on small and medium businesses, he ...
Couples staying together because of poor economy - Maryland Daily RecordRunning into your ex is almost always awkward and stressful. David Snyder and Nancy Partridge deal with it nearly every day. The Denver couple divorced after six years of marriage but have been forced to live together for months because they can't ...
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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