NEW YORK (Reuters) - Applications for U.S. home mortgages declined last week as refinancing activity fell and mortgage rates were little changed, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage activity fell 1.0 percent to 689.0 in the week ended Dec. 10, partly offsetting a 3.4 percent gain the prior week. Fixed 30-year mortgage rates averaged 5.65 percent last week, excluding fees, down slightly from 5.... : Mortgage Applications Fell Last Week-MBA
adjustable rate mortgage
An adjustable rate mortgage or variable rate mortgage is a loan secured on a property (house) whose interest rate and so monthly repayment vary over time. Other forms of mortgage loan include interest only mortgage, fixed rate mortgage, discounted rate mortgage and balloon payment mortgage. Adjustable rates transfer part of the interest rate risk fr... : adjustable rate mortgage
graduated-payment mortgage
a mortgage loan which provides for initial lower monthly payments, with payment amounts increasing gradually over a period, usually up to 10 years, under the assumption that the borrower's income will also rise during the period. ... : graduated-payment mortgage
Private mortgage insurance (PMI)
A type of insurance policy written by a private company protecting the mortgage lender against loss resulting from a mortgage default; typically used if the borrower's down payment is less than 20 percent of the home's purchase price.... : Private mortgage insurance (PMI)
Finally! Some good inflation news
Finally! Some good inflation news Fed officials say that despite a rise in oil prices, things are well in check. April 20, 2005: 9:24 AM EDT NEW YORK (CNN/Money) - As another disturbingly high reading on inflation hits the markets, it will be interesting to see if the Federal Reserve maintains the upbeat view expressed by some its officials in the last 24 hours. Last night at a speech I attended in New York, the president of the Cleveland Federal Reserve... : Finally! Some good inflation news
House Mortgage Second Resources
Check out our great house mortgage second information.
Some second mortgage loans may extend for as long as 15 or 20 years; others may require repayment in one year. You will need to discuss the repayment terms with the individual mortgage company and select one that offers terms that best suit your needs. For example, if you need to borrow $20,000 to make repairs on ... : Length of Second Mortgage
U.S. 30-, 15-Year Mortgage Rates Rise
WASHINGTON (Reuters) - Interest rates on U.S. 30-year and 15-year mortgages edged higher this week amid signs the economy is improving, stoking inflation concerns, mortgage finance company Freddie Mac said on Thursday. U.S. 30-year mortgage rates rose to an average of 5.82 percent in the week to Oct. 7, up from 5.72 percent a week earlier. Freddie Mac said 15-year mortgages averaged 5.24 percent this week, compar... : U.S. 30-, 15-Year Mortgage Rates Rise
blanket mortgage
A blanket loan, or blanket mortgage, is a mortgage lient securing several parcels of property, frequently used by developers who have purchased a single tract of land intending to subdivide into individual parcels. The developer normal requires a 'partial release' clause so that individual parcels can be released f... : blanket mortgage
Second mortgage
A secured loan (or mortgage) that is subordinate to another loan against the same property. More specifically, the second loan in sequence.In real estate, a property can have multiple loans against it. The loan which is registered with county or city registry first is called the first mortgage. The loan registered second is called the second mortgage. A property can have a third or even fourth mortgage, but those are rarer.Second mortgages are... : Second mortgage
Fannie Mae Says Two Top Execs Step Down
By Mark Felsenthal WASHINGTON (Reuters) - U.S. mortgage finance giant Fannie Mae (FNM.N: Quote , Profile , Research ) confirmed late on Tuesday that embattled Chief Executive Franklin Raines and Chief Financial Officer Timothy Howard were stepping down after accounting errors that are expected to force a massive earnings restatement. The two execu... : Fannie Mae Says Two Top Execs Step Down
