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News about Mortgages:
Mortgage applications up 112.1% last week, due to drop in rates: MBA - MarketwatchMany borrowers missed an opportunity to take advantage when rates dropped sharply for a brief period when the GSEs were placed under conservatorship," said Orawin Velz, associate vice president of economic forecasting for the association. GSEs refer ...
Homeowners' Refinancing Jumps by Record Pace - Wall Street JournalApplications to refinance home-mortgages jumped by a record amount, as borrowers flocked to take advantage of falling mortgage rates -- which were driven down by the government's announcement that it would step in to stabilize the mortgage market. On ...
Rio Tinto says reports 'overstated' debt - ninemsnMining giant Rio Tinto Ltd on Thursday declined to respond to reports that it has begun talks with banks to refinance debt incurred through the $US38 billion ($A58.65 billion) acquisition of Canadian aluminium producer Alcan last year. Rio Tinto ...
U.S. Eyes Plan to Lift Home Sales - Wall Street JournalWASHINGTON -- The Treasury Department is considering a plan to revitalize the U.S. home market that would push down mortgage rates for home loans, according to people familiar with the matter. The plan, which is in the development stage, would ...
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 ...
MORTGAGE BANKERS: Home Loan Applications Up Slightly; Still Down 21.9 ... - HuntingtonNews.NetThe Mortgage Bankers Association (MBA) on Wednesday, Nov. 26, 2008 released its Weekly Mortgage Applications Survey for the week ending November 21, 2008 which showed that the Market Composite Index -- a measure of mortgage loan application volume ...
Financial industry pushes for lower mortgage rates - Charleston GazetteWASHINGTON -- Financial industry lobbyists are urging the Treasury Department to take steps to lower mortgage rates in an effort to stabilize the housing market. Under the proposal, Treasury would seek to lower the rate on a 30-year mortgage to 4.5 ...
Brookfield Asset Management strikes deal to refinance US$800 million ... - 680 NewsTORONTO - Brookfield Asset Management Inc. (TSX:BAM.A), a Toronto-based investment company formerly known as Brascan, says it has struck a deal to refinance US$800 million in debt of its Australian real estate unit and plans to combine all its ...
Mortgage applications more than double - CNN MoneyNEW YORK (CNNMoney.com) -- Mortgage applications more than doubled last week, a mortgage bankers' group said Wednesday, as government bailouts led to sinking interest rates that made refinancing especially more attractive. In the weekly report, the ...
Paulson Considers New Plan to Resuscitate U.S. Housing Market - BloombergDec. 4 (Bloomberg) -- Treasury Secretary Henry Paulson is considering a new plan to reduce mortgage rates in another bid to revive the U.S. housing market, a government official said. The Treasury, which already has a program to buy mortgage- backed ...
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.
View all Terms