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News about Mortgages:
New low mortgage rates out of reach - The Washington TimesA 30-year, $350,000 mortgage bearing a fixed rate of 5.25 percent instead of 6.5 percent would save a borrower $280 per month. A half-percentage-point reduction to 5.5 percent would yield a monthly savings of $111. "Many people have been sitting on ...
Buy Real Estate Now - Forbes11.27.08 - First, the bad news. New home sales in the U.S. haven't been this low since 1991, according to the Commerce Department. Now the good news. New home sales in the U.S. haven't been this low since 1991. This means prices are back to where ...
Bank Bonds Rise May Ease Pain of Refinancing $89 Billion Debt - BloombergOct. 15 (Bloomberg) -- A rally in bank bonds spurred by U.S. Treasury Secretary Henry Paulson 's rescue plan may ease the way for financial companies to refinance $89 billion of debt maturing through the end of the year. Bonds of Morgan Stanley ...
What’s the Low Down on Loan to Value? - Newport Plain TalkWhen buying a home, most people only concern themselves with the interest rate and the type of loan they are getting. However, the loan to value may be another aspect to take into consideration It’s not very often that a borrower takes into heavy ...
Down Goes Downey - MSN MoneyCentralLooks like all those option adjustable rate mortgages (ARMs) weren’t such a good idea after all: 1% teaser rates and loans that grow, rather than shrink, over time just aren’t meant for questionable borrowers buying overpriced homes. Newport ...
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 ...
Pimco Closed-End Fund Joins Rivals Forced to Suspend Dividends - BloombergNov. 3 (Bloomberg) -- Pacific Investment Management Co.'s High Income Fund suspended dividend payments, the latest closed- end fund to be squeezed between plunging asset values and rules governing the use of borrowed money. The fund won't pay a $14.3 ...
Business as usual at Downey Savings - Los Angeles Times BlogsThe Downey Savings & Loan branch in Burbank seemed to be doing business as usual today under its new ownership: Minneapolis-based U.S. Bank . Federal regulators seized Newport Beach-based Downey and PFF Bank & Trust late Friday, the latest in a ...
Mortgage Insurance Companies Not Giving Breaks - Insurance News NetOct. 29--Randy Johnson, the Newport Beach author of "How to Save Thousands of Dollars on Your Home Mortgage" and a mortgage broker since 1983, answers questions from readers. QUESTION: If one buys a home that is appraised at $1.1 million but sells ...
CAMPAIGN NEWS - US News and World ReportThis morning's campaign coverage portrays the presidential race as having shifted decidedly in Sen. Barack Obama's favor, giving Sen. John McCain very little chance of picking up any states not won by President Bush in 2004. ABC World News described ...
Today's Mortgage Terms starting with J
Jumbo Loan: A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.
Junior Mortgage: A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.
View all Terms