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News about Mortgages:
New low mortgage rates out of reach - The Washington TimesA 30-year, $350,000 mortgage bearing a fixed rate of 5.25 percent instead of 6.5 percent would save a borrower $280 per month. A half-percentage-point reduction to 5.5 percent would yield a monthly savings of $111. "Many people have been sitting on ...
Developers eye vacant Newport school for arts center - Newport Daily NewsA Newport developer is interested in acquiring the abandoned Sheffield School on Broadway and turning it into an arts center. (Jacqueline Marque/Daily News staff) The Newport couple that is converting Lenthal School on Spring Street into upscale ...
Developers suggest turning Sheffield into arts center - East BayNEWPORT — A developer with eyes on the vacant Sheffield School is asking residents for their input on a proposal to convert the former elementary school into a community hub for artists, musicians and local non-profits. The concept is ...
Developers take off gloves in shrinking retail market - Business CourierMark Fallon, vice president at Jeffrey R. Anderson Real Estate, said his company is considering adding leasing back to its list of services to help boost revenues during the down economy. During a recent gathering of retail developers at the Newport ...
Home prices in record plunge - Denver PostNov 27: Black Friday's power fading Analyst: Retail season is over Nov 25: State's oil and gas firms cut back Nov 20: Deductibles take bigger bite High-end home sellers turn to leasing Nov 19: Automakers justify asking Congress for a financial fill ...
Black Friday shoppers spend -- with caution - Los Angeles TimesConsumers carted out flat-screen TVs, loaded up on the latest Elmo toys and raced to grab designer shoes Friday as retailers across the country anxiously held their breath. It was the traditional start of the holiday shopping season, complete with ...
Home sweet home builders? - Los Angeles Times BlogsHopes that government intervention will bolster the housing market are giving a boost to home-builder stocks. But investors hoping for a lasting turnaround in the ravaged sector may be building castles in the air. The five home-builder stocks in the ...
US home construction sinks to new record low - Associated PressWASHINGTON (AP) -- Construction of new homes plunged last month to the lowest level on records going back nearly 50 years as U.S. builders slashed production while Wall Street nosedived. Embattled homebuilders, who enjoyed a five-year boom, are now ...
Week in Review - Sunday, Nov 30 - Delaware OnlineBob Terczak started praying before his wife hit the ground. WASHINGTON -- When the government took over mortgage giants Fannie Mae and Freddie Mac, taxpayers inherited more than just bad debts. They're also potentially on the hook for tens of ...
Bill Gross Says Stocks Aren’t as Cheap as They Appear (Update1) - BloombergDec. 2 (Bloomberg) -- Bill Gross , manager of the world’s biggest bond fund, said stocks aren’t as cheap as they appear given that the era of deregulation, low borrowing costs and tax cuts is over. “Stocks are cheap when valued within the ...
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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