Sterling Mortgage Rates and Information Online from competing Lenders

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MONEY MARKETS-Central banks keep lending markets afloat - Reuters
NEW YORK, Dec 4 (Reuters) - Central banks remained the primary source of capital for the global economy, with Europeans cutting interest rates sharply on Thursday and the Federal Reserve acting as commercial lender of last resort. The European ...

Short View: Sterling outlook - Financial Times
Barring a big surprise, the Bank of England will on Thursday join other central banks in cutting rates by a full percentage point (while the European Central Bank will probably cut half as much). The most urgent question arising from the Bank’s ...

Forget about cheering, it's a time for tough decisions - Independent
Share THE natural reaction is to cheer the biggest cut in interest rates in the euro's 10-year history. But before we do, it is worth looking at the reasons the European Central Bank gave for its decisions, and the effect of the general round of rate ...

Sterling tumbles ahead of rate decision - Financial Times
Sterling sank below $1.45 against the dollar on Thursday after the UK’s bleak economic landscape was blackened further with data showing house prices had another sharp fall in November. The pound fell as low as $1.4467, its weakest level in six and ...

Struggles of the oysterman - Connecticut Post
WESTPORT -- On a raw November morning, when the tide is low and the wind blows steadily from the northwest, oysterman Alan Sterling clambers aboard a makeshift raft and paddles to his fishing boat a few hundred yards from shore. The 26-foot vessel ...

Quick-fix scheme may only worsen crisis - Daily Mail
No one could accuse the Government or the Bank of England of sitting on their hands while house prices crash and repossessions lead to families being thrown out of their homes. First, Gordon Brown throws a lifeline to homeowners suffering a sudden ...

Boat is refuge, economic lifeline for oysterman - Louisville Courier-Journal
WESTPORT, Conn. -- On a raw November morning, when the tide is low and the wind blows steadily from the northwest, oysterman Alan Sterling clambers aboard a makeshift raft and paddles to his fishing boat a few hundred yards from shore. The 26-foot ...

Sterling slides as weak UK data fuels BoE rate cut bets - Reuters UK
LONDON, Dec 1 (Reuters) - The pound shed two percent of its value against the dollar and euro on Monday after dismal UK manufacturing and mortgage lending data increased expectations that the Bank of England will slash interest rates on Thursday. The ...

Taxpayers' mortgage guarantee - bbc
Gordon Brown has just announced a scheme which he hopes will lead to significantly fewer repossessions next year than the 75,000 currently expected by the CML. It's an attempt to provide assistance for two years to those families which suffer a fall ...

Sterling Bancshares to receive $125M from gov't - CNN Money
NEW YORK (Associated Press) - Sterling Bancshares Inc. said Tuesday it received preliminary approval to receive $125 million in capital as part of the government's $700 billion bank investment program. The government investment, administered by the U ...

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Today's Mortgage Terms starting with A

  • Accrued Interest: Interest earned but has not been paid
  • Additional Principal Payment: A payment made by the borrower of more than the scheduled principal amount due with the purpose of reducing the remaining balance on the loan.
  • Adjustable Rate Mortgage: Loans with interest rates that are adjusted periodically based on changes of a pre-determined index. The index is based on market rates such as Treasury bills and prime rates. The ARM has an interest rate cap that limits the amount the interest rate can change.
  • Adjustment Period: Applicable to an ARM, the time between changes in the interest rate.
  • Amortization: Repayment of a debt with periodic payments, usually monthly, of principal and interest calculated to pay down the loan within a predetermined time.
  • Amortization Schedule: A timetable for payment of a mortgage detailing the amount of each payment applied to interest and principal and the balance left outstanding.
  • Annual Percentage Rate (APR): The cost of credit shown as a yearly rate. The annual percentage rate is usually not the same as the interest rate. The APR will be higher than the interest rate stated in the note due to the fact that it includes the interest rate, loan discount points, fees and mortgage insurance.
  • Appraisal Fee: A fee charged by a licensed, certified appraiser for a written estimate of a property's current market value at a specific time.
  • Assumable Mortgage: A mortgage that can be taken over by the buyer when a home is sold by the previous owner.
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