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News about Mortgages:
Mortgage lending rises 7 percent in October - Reuters UKMortgage lending rises 7 percent in OctoberReuters UK, UK - 13 hours agoHowever, any recovery in lending is also being held back by the continuing shortage of mortgage funding," the CML added. (Reporting by David Milliken, ...
Canadians expect MPs to get down to business - The Gazette (Montreal)Canadians expect MPs to get down to businessThe Gazette (Montreal), Canada - Nov 19, 2008We know that Canada has not yet been hit hard by the crisis - our banks are by all accounts solid, our mortgage market is in decent shape, ...
Bank of England makes shock 150 basis point rate cut - guardian.co.ukWelt OnlineBank of England makes shock 150 basis point rate cutguardian.co.uk, UK - Nov 6, 2008(Additional reporting by Matt Falloon, David Milliken, Christina Fincher, Peter Griffiths, Adrian Croft and Kylie MacLellan in London and Avril Ormsby in ...Bank of England's massive rate cut is double-edged sword Reutersall 59 news articles
Fed's Kohn: May need more steps to soothe markets - ReutersFed's Kohn: May need more steps to soothe marketsReuters - Nov 12, 2008By David Milliken LUXEMBOURG (Reuters) - The Federal Reserve is prepared to take additional steps to stabilize malfunctioning financial markets and support ...
Brown calls for fiscal action to back rate cuts - stv.tvstv.tvBrown calls for fiscal action to back rate cutsstv.tv, UK - Nov 7, 2008... action on fiscal policy," Brown told reporters before going to a meeting of European Union leaders. (Reporting by Sumeet Desai, writing by David Milliken)
UPDATE 1-UK construction sector shrinks at record pace in Oct - ReutersUPDATE 1-UK construction sector shrinks at record pace in OctReuters - Nov 4, 2008By Christina Fincher and David Milliken LONDON, Nov 4 (Reuters) - Britain's construction sector shrank last month at its fastest pace since records began ...
UK names head of new agency to manage bank stakes - guardian.co.ukUK names head of new agency to manage bank stakesguardian.co.uk, UK - Nov 3, 2008By James Davey and David Milliken LONDON, Nov 3 (Reuters) - Britain said the chairman of supermarket chain J Sainsbury , Philip Hampton, will oversee a new ...
Banking system should steady, but risks remain -BoE - guardian.co.ukBanking system should steady, but risks remain -BoEguardian.co.uk, UK - Oct 28, 2008The economic values of these assets lie significantly above their current market values." (Additional reporting by David Milliken, editing by Andy Bruce)
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