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Hong Kong shares rise 1.4 pct, led by financials - CNBC
HONG KONG, Dec 3 (Reuters) - Hong Kong shares rose 1.4 percent on Wednesday, with financials leading the charge after their U.S. peers gained overnight, but property stocks fell after the city's big lenders raised mortgage rates. Banks stocks ...

Low Treasury yields mean savers see meager returns - Idaho Statesman
NEW YORK — Treasury yields, some of the most sensitive barometers of investor sentiment, keep dropping to new record lows as a torrent of bad economic news continues. But as investors send yields down, they're also influencing the economy - driving ...

After a rollercoaster day, the Dow finished higher. - FXStreet.com
After a rollercoaster day, the Dow finished higher by 173 points, shrugging off a dismal Beige Book outlook and a worse than expected ADP employment report, and instead focusing on soaring mortgage applications. As mortgage rates move down, there is ...

Is Santa Claus recession-proof? - Orange County Register
As we wrote earlier this week , families are adjusting to the down economy by trimming back on Christmas plans. For older kids, it's a good opportunity to talk about frugality, but what can you tell kids who still believe Santa – not mom and dad ...

Stocks point higher as investors scour retailer earnings reports ... - Allentown Morning Call
NEW YORK (AP) _ Wall Street headed toward a higher open Tuesday, following a now-familiar pattern of snapping back after a huge selloff. Investors, while looking for bargains, are focusing on the health of retailers and automakers. The stock market ...

HSBC drives up cost of getting mortgage - Hong Kong Standard
Hongkong and Shanghai Banking Corp has announced it will raise mortgage rates drastically for new home buyers by 50 to 75 basis points. New customers who take out a HK$1 million home loan will pay HK$5,000 to HK$7,500 more per year in interest as a ...

U.S. Markets Fall on Signs of Deepening Economic Downturn - Washington Post
Stocks fell this afternoon as new economic data pointed to a deepening recession. After taking a significant dive this morning, the Dow Jones industrial average was down 0.8 percent, or 70 points, while the Standard & Poor's 500-stock index fell 0.5 ...

Oil and retail gas prices in United States slip to new three-year lows - Edmonton Sun
COLUMBUS, Ohio - Oil and U.S. retail gasoline prices dipped to new three-year lows Tuesday with the United States officially in a recession. Analysts believe prices at the pump may finally be bottoming out after a precipitous decline from record ...

Panasonic Cuts Earnings Outlook - BusinessWeek
With the world’s financial markets still in crisis and analysts forecasting a grim holiday season for tech makers, this is hardly the time to be talking about growth targets. But Panasonic’s top finance executive, Makoto Uenoyama, said on Nov. 27 ...

UPDATE 2-FirstRand sees lower profit on bad debts, shares hit - Reuters
JOHANNESBURG, Dec 2 (Reuters) - FirstRand Ltd (FSRJ.J: Quote , Profile , Research , Stock Buzz ), South Africa's second-biggest bank by assets, forecast lower full-year earnings due to rising bad debts at its mortgage and retail lending businesses ...

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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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