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Today's Mortgage Terms starting with F Federal Home Loan Mortgage Corporation (FHLMC or Freddie Mac): A semi government agency that acquires conventional loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending. Federal Housing Administration (FHA): A federal agency within the Department of Housing and Urban Development (HUD), which insures residential mortgage loans made by private lenders and sets standards for underwriting mortgage loans. Federal National Mortgage Association (FNMA or Fannie Mae): This agency purchases loans that are underwritten to its specific guidelines. These guidelines are an industry standard for residential conventional lending. FHA Loans: Fixed or adjustable-rate loans that are insured by the U.S. Department of Housing and Urban Development. The purpose of FHA loans is to make housing more affordable, especially for first-time homebuyers. First Mortgage: A mortgage which is in first lien, taking priority over all other liens. In case of a foreclosure, the first mortgage will be repaid before any other mortgages. Fixed Rate Loan: Fixed-rate loans have interest rates and payments that are fixed through out the term of the loan. Foreclosure: A legal process in which a mortgaged property may be liquidated to pay off a mortgage loan that is in default. View all Terms

Jay mortgage rates news:

LENO SET UP HAIR DARE FOR PLAYOFFS - New York Post
ONE of Jay Leno's side kicks, either band leader Kevin Eubanks or John Melendez, will be on the razor's edge after Sunday's Giants-Eagles playoff game. Hair's a lot riding on the game. "John's a Giants fan. Kev's an Eagles fan," Leno told viewers ...

U.S. Banks Offer Mortgage Rates Below 5% as Fed Buys Securities - Bloomberg
Jan. 8 (Bloomberg) -- The largest U.S. banks are starting to offer fixed home loans below 5 percent after the government began buying mortgage securities to bolster the housing market. JPMorgan Chase & Co. is advertising 30-year mortgages as low as 4 ...

U.S. Banks Offer Mortgages Below 5% After Fed Action (Update1) - Bloomberg
Jan. 8 (Bloomberg) -- The largest U.S. banks are starting to offer fixed home loans below 5 percent after the government began buying mortgage securities to bolster the housing market. JPMorgan Chase & Co. is advertising 30-year mortgages as low as 4 ...

Realtors look to falling mortgage rates for a better year for home ... - Colorado Springs Gazette
December was a downer for the Colorado Springs-area home market, as prices and sales dropped sharply last month to cap one of the weakest years for the local market in recent memory. But that was 2008. Local real estate agents say they're optimistic ...

Letter: Distorted, misguided government policies caused free market ... - Opelika-Auburn News
In the 1990s, I used to give speeches on federal government deficit spending and the potential problems it would cause. Consequently, I have not been surprised by the recent financial turmoil that has devastated our economy. While the Congress and ...

Stocks Slump on Poor Jobs, Earnings News - MSN MoneyCentral
U.S. stocks closed sharply lower Wednesday. Profit warnings from Intel (INTC) and Time Warner (TWX) gave investors reasons to sell into recent market gains, as did an ADP survey showing a 693,000 plunge in U.S. private sector payrolls in December ...

Reinsurance prices up during Jan. 1 renewals - Marketwatch
Property-reinsurance rates in the United States climbed 8% to 25% with the greatest increases on accounts that experienced losses in 2008, the analyst said. Casualty-reinsurance prices rose less than 10%, but coverage involving financial institutions ...

UPDATE: AIG Woes, Investment Losses Push Reinsurance Prices Higher - CNN Money
SAN FRANCISCO (Dow Jones) -- The near-collapse of American International Group Inc. and investment losses from the global financial crisis have pushed reinsurance prices higher, which may bode well for profits at other, financially stronger companies ...

U.S. Service Sector, Factory Orders Decline - Free Internet Press
The service sector contracted in December for the third consecutive month, while orders at factories fell the previous month on weakening consumer demand, according to data released Tuesday that highlighted the persistent weakness in the U.S. economy ...

How to invest in a low-interest rate environment - Austin American-Statesman
WASHINGTON — Risk is out of the question. But the safest investments deliver almost nothing, especially now when interest rates are at record lows. So how do you squeeze out a decent return and still sleep soundly? One way is to replace low ...