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News about Mortgages:
CORRECTED - UPDATE 2-US mortgage rate drops 10th week, to record low - Reuters UKNEW YORK, Jan 8 (Reuters) - The average interest rate on 30-year U.S. fixed-rate mortgages dropped to a 38-year low of 5.01 percent in the latest week, after the Federal Reserve launched its mammoth plan to lower home borrowing costs, Freddie Mac ...
Is It Time To Refinance Your Mortgage? - ForbesLooking to refinance your mortgage? Do it now. Interest rates for 15- and 30-year fixed-rate mortgages are heading south of 5%, where they haven't been since Richard Nixon was president. Average 15-year fixed-rate loans, for example, are 4.67 ...
Fed's Rosengren says recession more severe than thought - FXStreet.comNEW YORK, Jan 8 (Reuters) - The U.S. recession looks to be longer and more severe than originally thought, but there are signs that the economy will improve in the second half of 2009, a top Federal Reserve official said on Thursday. "It appears the ...
Commercial real estate faces tough year as vacancies rise - Buffalo NewsNEW 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 ...
Commercial real estate outlook grim for 2009 - Fort Worth Star-TelegramThe rise in empty storefronts and uncollected rents is putting pressure on real estate investors, many of whom need to refinance parts of their portfolios this year. ASSOCIATED PRESS ARCHIVES NEW YORK — The balance of power between landlords and ...
Battle brewing over new appraisal rules - Chicago TribuneWhen you apply for a mortgage to buy or refinance a house, should you be concerned that your appraiser is being paid much less — maybe just half –– of the $300 to $600 you're charged on your settlement sheet? Should you know who pockets the ...
Dividend axed to cut £600m debt pile at builder - yorkshirepostHOUSEBUILDER Persimmon has reassured investors with decisive action on cutting its debt. The York firm, which had a torrid 2008 in Britain as the housing industry crashed, is also cancelling its final dividend in a move to preserve cash. Analysts ...
Appraisers sound alarm on part of new federal standards - Arlington Heights Daily HeraldWASHINGTON - When you apply for a mortgage to buy or refinance a house, should you be concerned that your appraiser is being paid much less - maybe just half - of the $300 to $600 you're charged on your settlement sheet? Should you know who pockets ...
Could a Bad Real Estate Deal Sink the New York Observer ? - GawkerThe commercial real estate market is tanking . Jared Kushner , the owner of the New York Observer , is invested up to his neck in that market. Is it time to start jumping to conclusions? Maybe so! Kushner Companies' prize property is 666 Fifth Avenue ...
Commercial real estate plagued by empty storefronts - Inside Bay AreaNEW 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 ...
Today's Mortgage Terms starting with I
Index: An index is usually a widely published market rate such as LIBOR, T-Bill or 11th District Cost of Funds (COFI). Lenders use these indices to set the interest rates charged on mortgage loans. For ARM, a predetermined margin is added to the index to calculate the interest rate adjustment.
Initial Rate: The rate charged for the first interval of an ARM loan.
Interest: Compensation in the form of money paid for the use of money.
Interest Rate Cap: Caps limit the range that the interest rate on an adjustable rate mortgage can change in an adjustment interval during the term of the loan.
View all Terms