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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

Bradford mortgage rates news:

What the bail outs mean for you - Financial Times
The government’s £37bn lifeline to Royal Bank of Scotland , Lloyds TSB and HBOS has had a mixed response. While the bank bailout is bad news for shareholders, there is potentially good news for borrowers, savers and pension funds. We explain what ...

UK government nationalizes Bradford & Bingley - Associated Press
LONDON (AP) -- The British government is nationalizing troubled mortgage lender Bradford & Bingley, the Treasury confirmed Monday, taking over the bank's 50 billion pound ($91 billion) mortgage and loan books as turmoil from the U.S. credit crisis ...

Brown Uses Control of British Banks to Boost Lending (Update2) - Bloomberg
Oct. 13 (Bloomberg) -- Prime Minister Gordon Brown will use his government's control over two of the U.K.'s largest banks to cut the price of loans to small businesses and homeowners and curb the pay of directors. The Treasury today said it will ...

Pressure on G7 as financial chaos continues - Guardian Unlimited
Sept. 14/15 - Investment bank Lehman Brothers Holdings Inc files for bankruptcy protection; Merrill Lynch & Co Inc to be taken over by Bank of America Corp. Sept. 16 - Federal Reserve announces plan for $85 billion loan to American International ...

UK steps in to save its banks, cuts interest rates - International Herald Tribune
LONDON : British banking stocks soared Wednesday after the government announced a 50 billion pound (US$88 billion) plan to partly nationalize major banks and promised to guarantee a further 250 billion pounds (US$438 billion) of bank loans to shore ...

ECB sees crisis of "enormous proportions" as Spain creates mortgage ... - Daily Telegraph
A string of governors from across the eurozone have today issued grim warnings in what seemed a coordinated move to prepare the markets for interest rate cuts, perhaps within days. Guy Quaden, Belgium’s ECB member, said the violent storm ravaging ...

Mortgage chiefs snub PM's demand that bailed-out banks give homeowners ... - Daily Mail
Mortgage chiefs today branded a key plank of the Government's bank rescue plan 'undesirable' and unlikely to happen. Within hours of Gordon Brown giving details of the £37 billion blueprint to avoid a financial meltdown, the Council of Mortgage ...

Markets dive at record rates around the world - Seattle Post Intelligencer
Fear. If there was one word to sum up the world's financial markets Monday, it was that. No one wanted to buy shares and, yet again, no one much wanted to lend money. Richard Fuld, the former chief executive of Lehman Brothers, told Congress his bank ...

Joe Biden: John McCain's latest mortgage plan bails out bad bankers ... - Newsday
ST. JOSEPH, Mo. (AP) _ Democratic vice presidential candidate Joe Biden said Thursday that Republican John McCain keeps switching responses to the economic crisis and now advocates a plan for troubled mortgages that would "reward banks and lenders ...

Crisis hits mortgage rates - Ottawa Sun
TORONTO — One of Canada’s biggest mortgage lenders, TD Canada Trust, is increasing the interest rate charged for its home equity line of credit and variable-interest mortgages. The bank has been charging its prime rate for its Home Equity Lines ...