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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

Madison mortgage rates news:

Small banks court depositors amid market turmoil - San Diego Union-Tribune
WASHINGTON – As consumer confidence in big banks larded with distressed mortgage assets weakens, smaller community banks and credit unions are trying to win the hearts and minds – and deposits – of consumers. It's like Madison Avenue meeting ...

Local banks ‘safe, sound’ despite crisis - Recorder Community Newspapers
As the nation’s largest banks literally choke over enormous debt from bad mortgages, the smaller community banks find themselves in a better position, according to a number of bank officials in the area. The financial crisis on Wall Street has led ...

Local banks are OK despite financial crisis - Recorder Community Newspapers
As the nation’s largest banks literally choke over enormous debt from bad mortgages, the smaller community banks find themselves in a better position, according to several local bank officials. The financial crisis on Wall Street has led to a ...

The Next Meltdown: Credit-Card Debt - BusinessWeek
by Jessica Silver-Greenberg The troubles sound familiar. Borrowers falling behind on their payments. Defaults rising. Huge swaths of loans souring. Investors getting burned. But forget the now-familiar tales of mortgages gone bad. The next horror for ...

Lawrence Summers: Government should step up, not back - Wisconsin State Journal
The idea seems to have taken hold that, with the expected bailout of the financial sector, the nation will have to scale back its aspirations in areas such as health care, energy, education and tax relief. This is more wrong than right. We have here ...

Smaller banks courting depositors - Canton Repository
WASHINGTON As consumer confidence in big banks larded with distressed mortgage assets weakens, smaller community banks and credit unions are trying to win the hearts and minds — and deposits — of consumers. It's like Madison Avenue meeting Main ...

McCain plan 'rewards bad behaviour' - MSN UK News
Democrat Barack Obama derided Republican opponent John McCain's mortgage buyout plan as a misdirected effort that rewards bad behavior by lenders and takes billions of dollars from taxpayers, already suffering a heavy burden as the country's ...

Presidential candidate advisers disagree on econ solutions - Wisconsin State Journal
Economic advisers to presidential candidates John McCain and Barack Obama agree: The $700 billion financial bailout package isn't enough to save the flagging economy. But their disagreements on what to do were in high relief at a UW-Madison School of ...

Obama, McCain advisers clash over economic policy - Associated Press
MADISON, Wis. (AP) -- An adviser to John McCain said Friday his plan to buy bad mortgages with tax money is the best way to address the nation's economic crisis, but an aide to Barack Obama argued that would reward greedy lenders. The comments came ...

Fed's Rosengren Says Credit Crisis May Impair Growth (Update1) - Bloomberg
Oct. 9 (Bloomberg) -- The outlook for U.S. economic growth may worsen amid the credit crisis, as many large financial institutions refuse to lend to one another for even just a few days, Boston Federal Reserve Bank President Eric Rosengren said ...