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News about Mortgages:
Mortgage Selling Sinks Treasurys - Wall Street JournalNEW YORK -- The government bond market took some fallout from a fresh slump in the mortgage sector Wednesday, reversing earlier price gains on another round of recession-era economic data. Investors offloaded mortgage bonds Wednesday morning, and a ...
Mortgage rates fall, applications rise - Cincinnati.comSome fixed-rate mortgages tumbled more than a half percentage point last week and mortgage application volume more than doubled during the shortened Thanksgiving week, according to the Mortgage Bankers Association's weekly application survey. The ...
U.S. MBA’s Mortgage Applications More Than Doubled Last Week - Daily Business Reviewortgage applications in the U.S. surged by a record last week as lending rates plunged after the Federal Reserve pledged to buy mortgage-backed debt. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan ...
UPDATE 1-Pimco's Gross sees lower US 30Y mortgage rate-CNBC - ReutersNEW YORK, Dec 3 (Reuters) - U.S. 30-year fixed mortgage rates, pivotal to the fortunes of the crumbling housing market, will fall steeply in reaction to government steps to buy mortgage-related securities, the manager of the world's biggest bond fund ...
UPDATE 1-US mortgage applications post largest gain ever - ReutersNEW YORK, Dec 3 (Reuters) - U.S. mortgage applications surged by the largest amount on record last week as a new Federal Reserve program pushed interest rates down to their lowest level in more than 3 years, data from an industry group showed on ...
Mortgage applications post largest gain ever - MSN MoneyCentralNEW YORK (Reuters) - Mortgage applications surged by the largest amount on record last week as a new Federal Reserve program pushed interest rates down to their lowest level in more than 3 years, data from an industry group showed on Wednesday. The U ...
Anatomy of a Breakdown - Reason.comIt was not an absence of federal intervention that produced the Great Financial Panic of 2008. Contrary to the assertions of those clamoring for new regulations (see "Is Deregulation to Blame?," page 36), the liquidity shortage and credit freeze that ...
Brown Offers 1 Billion Pound Mortgage Loan Guarantee (Update2) - BloombergDec. 3 (Bloomberg) -- Prime Minister Gordon Brown said the U.K. government will guarantee interest payments worth up to 1 billion pounds ($1.5 billion) owed by homeowners struggling to keep up with mortgages, an effort to prevent home repossessions ...
Corporate insolvencies up in Germany - Financial TimesThe number of corporate insolvencies in Germany has risen for the first time in five years, according to a report that points to the impact the financial and economic crisis has already had on Europe’s largest economy. Creditreform, a business ...
Mortgage rates fall for 2nd day; won't help all - WTOP RadioMIAMI (AP) - Mortgage rates fell for the second day in a row Wednesday, and could be heading toward levels home buyers and owners haven't seen this year. That drop is what the Federal Reserve was aiming for when it announced a plan Tuesday to buy ...
Today's Mortgage Terms starting with B
Bankruptcy: A legal procedure in a federal court to relieve certain debts of a person or a business that is no longer able to pay its debts. Chapter 7 bankruptcy removes all debts. Chapter 13 lets a borrower with and income to pay bills off over a set period of time.
Bearer: The legal owner of a property.
Bill of Sale: A document that details the transfer of property.
Biweekly Mortgage: A mortgage with payments due every two weeks, totaling 26 payments a year, two payments more than a mortgage with monthly payments. The two extra payments lowers significantly the interest paid over the life of the mortgage.
Blanket Mortgage: A mortgage that includes more than one piece of real estate
Borrower (Mortgager): An individual who makes an application for and receives funds in the form of a loan and is obligated to repay the loan in full under the conditions of the loan.
Broker: An individual who gets buyers and sellers together and helps in negotiating contracts for a client.
Buy-Down Mortgage: A mortgage loan with a lower than market rate for a determined period of time.
Buyer’s Market: Market conditions that favor buyers. When there are more properties for sale than buyers, sellers may be forced to provide price discounts to close the transaction.
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