Marion mortgage quotes - Compare mortgages by city in Marion

Mortgage Rate Trends and Market Update

7-Jan-09

Last

Change

Best Rates 30 Year Fixed (50+ lenders)

5.12%

-0.04%

30 Year Fixed - 1 Week AVG

5.91%

-0.66%

1 Year ARM - National AVG

4.85%

-0.10%

5/1 Year ARM - National AVG

5.57%

0.08%

15 Year Fixed - National AVG

4.83%

-0.08%

30 Year Fixed - National AVG

5.10%

-0.04%

7 Year Fixed Rate Mortgage This marker indicates the current chart.

8.03%

2.49%

5 Year Fixed Rate Mortgage

5.78%

0.18%

30 Year Fixed Rate Mortgage

5.77%

0.30%

30 Year Fixed - California 1 Week AVG

5.00%

0.00%

This marker indicates the current chart. Use links on left to view charts. Click to enlarge.

Week Month Year 3 Yrs

sources: informars.com, erate.com, Freddie Mac

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Mortgage.net - Marion mortgage quotes - Compare mortgages by city in Marion

Cash To Close:

Closing:

Closing Costs:

Collateral:

Conforming Loan:

Conventional Loan:

Conversion Clause:

Convertible ARM:

Covenant:

Credit Bureau:

Credit Report:

Buena Vista	Mauk






Today's Mortgage Terms starting with C Cash To Close: Liquid assets that are available on hand for payment of closing costs involved in the processing of a mortgage transaction. Closing: The completion of a real estate transaction. The closing includes the delivery of a deed, financial adjustments, signing of notes and disbursement of funds required to finalize the sale and loan transaction. Closing Costs: Fees generally paid by the borrower in relation to the closing of a mortgage loan. Collateral: Property pledged as security for a debt. Conforming Loan: Conventional home mortgages eligible for sale and delivery to either the Federal National Mortgage Association (FNMA) or the Federal Home Loan Mortgage Corporation (FHLMC). These agencies generally buys first mortgages up to loan amounts approved by Congressional directive. Conventional Loan: Loans that are not part of any government housing program, free of any restrictions of government insured housing programs, such as loan size limits. Conversion Clause: A feature in certain ARMs that gives you the option to convert the variable rate loan to a fixed-rate loan, usually after the first adjustment period. The new fixed rate will be set at current rates and there could be a fee for the conversion feature. Convertible ARM: A type of ARM loan that can be converted to a fixed-rate loan after a certain time period. Covenant: A clause in a contract that obligates or restricts the parties and if broken, can result in a legal action. Credit Bureau: It is a clearinghouse for credit history information. Credit Report: A report containing a detailed credit history of an individual. View all Terms