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Treasury Yields Drop to Record Lows as Bernanke Cites Buybacks - BloombergDec. 1 (Bloomberg) -- Treasuries rose, pushing yields to record lows, as Federal Reserve Chairman Ben S. Bernanke said the central bank may purchase Treasuries and target long-term interest rates to combat the deepening recession. Bonds rallied for a ...
House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News BlogsABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...
U.S. banks mine data and pitch to troubled borrowers - International Herald TribuneBrenda Jerez hardly seems like the kind of person lenders would fight over. Three years ago, the New Jersey resident became ill with cancer and ran up $50,000 on her credit cards after she was forced to leave her accounting job. She filed for ...
Mortgage crisis could drag down malls - Raleigh News & Observer* A development company takes out a mortgage on a new mall, for a term as short as five years, with a big payment scheduled at the end. * The mall fills with stores, and the developer uses some of the rent they pay to make its own mortgage payments ...
Shares of mall owner plunge after warning - Raleigh News & ObserverStory Tools CHICAGO - General Growth Properties shares plummeted Tuesday after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance nearly $1 billion in debt. The real estate investment trust ...
Mortgage brokers seeing more refinancing - WRALRaleigh, N.C. — New numbers out Wednesday show national sales of new homes are at their lowest point in 18 years. But when it comes to pre-owned, the days of bargain hunting here may be over. The Federal Home Finance Agency reports prices are still ...
UK plumbing supplies firm Wolseley cuts 2,000 jobs - International Herald TribuneLONDON : Wolseley PLC, the world's largest distributor of plumbing products, said Monday it would shed 2,000 jobs and close 200 branches in Britain and Ireland to adjust to the economic downturn. The company, which has already cut 5,000 jobs across ...
What low rates mean to you - Akron Beacon JournalLast week, the Federal Reserve cut interests rates for the sixth time this year in its efforts to restrain the credit crisis. The move that reduced the rate to 1 percent was a plus for Wall Street, which was up 10.1 percent last week. But what have ...
Maryann Haggerty and Elizabeth Razzi - Washington PostWelcome to Real Estate Live, an online discussion of the Washington area housing market with Post Real Estate editor Maryann Haggerty and columnist Elizabeth Razzi. Maryann has been with The Post for 18 years and has served as real estate editor for ...
Today's Mortgage Terms starting with M
Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender.
Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property.
Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market.
Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services.
Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance).
Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default.
Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity.
Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment.
Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment.
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