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Oil dips below $47 as investors weigh bad economic news ahead of EIA ... - Orlando SentinelSIOUX FALLS, S.D. (AP) — Energy prices edged lower across the board Wednesday in advance of a government report that's expected to show U.S. crude oil reserves rose by 1.5 million barrels last week. Sweet crude for February delivery fell $1.72 to ...
Refinancing suddenly booms - Honolulu AdvertiserHistorically low interest rates recently have sparked a mortgage refinance boom in Hawai'i that is helping homeowners and lenders during difficult economic times. The national average interest on a 30-year fixed-rate mortgage last week dropped to 5 ...
MGM Mirage’s CEO to ‘Dramatically’ Cut Debt, May Sell Casinos - BloombergJan. 8 (Bloomberg) -- MGM Mirage’s new chief executive officer, James Murren, said he plans to “dramatically” reduce debt and will consider further casino sales as he overhauls the company’s balance sheet. Murren plans to refinance maturing ...
UPDATE 1-Commerzbank state-backed bond opens new asset class - ForbesFRANKFURT, Jan 8 (Reuters) - Commerzbank AG on Thursday became the first German lender to launch a bond backed by state guarantees, creating a new asset class and opening the way for other banks to follow suit. Germany's second-biggest bank said its ...
As mortgage rates slide, applications to refinance have gone through ... - Dallas Morning NewsHomeowners are taking advantage of the drop in mortgage rates, lenders say, with refinancing applications rising 500 percent since October. But applications for new home loans have not followed suit, as buyers remain wary about the economy or wait to ...
Commercial real estate market cooling - Daily HeraldNEW YORK -- The balance of power between landlords and tenants will shift dramatically in 2009. For landlords, this promises to be a year of intense competition, more bankrupt tenants, and tightfisted lenders. For renters, it looks like a time of ...
U.S. Banks Offer Mortgage Rates Below 5% as Fed Buys Securities - BloombergJan. 8 (Bloomberg) -- The largest U.S. banks are starting to offer fixed home loans below 5 percent after the government began buying mortgage securities to bolster the housing market. JPMorgan Chase & Co. is advertising 30-year mortgages as low as 4 ...
Is now the time to refinance? - ABC2 NewsThe holidays are likely to be a little more cheery at Kevin Coughlin's home. Coughlin refinanced the adjustable-rate mortgage on his Shorewood, Minn., house this week into a 30-year fixed-rate mortgage that's going to save him $200 a month. "It takes ...
Mortgage rates dropping: Is it time to refinance? - Providence JournalMINNEAPOLIS — This year is likely to be a little cheerier at Kevin Coughlin’s home. Coughlin refinanced the adjustable-rate mortgage on his Shorewood, Minn., house last month into a 30-year fixed-rate mortgage that’s going to save him $200 a ...
Don't miss the refinance window - HometownAnnapolis.comWith interest rates hovering around 5 percent for conforming loan amounts, homeowners should begin to seriously consider refinancing into a new fixed-rate mortgage, especially if they currently have an adjustable-rate mortgage," said Lisa Weaver ...
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.
View all Terms