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.

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Ottawa mortgage rates news:

Canada Economy Grew at 0.3% Pace in Second Quarter (Update4) - Bloomberg
Aug. 29 (Bloomberg) -- Canada's economy grew less than economists predicted in the second quarter on falling exports, averting the first back-to-back quarterly contractions since 1991 and what many would have labeled a recession. Gross domestic ...

Central bank faulted for low pay, irrelevant studies - Globe and Mail
G Montcler from Canada writes: Thank heavens for the Central Banks of the US, UK and EU. Anyone following the sayings of the Bank of Canada is courting disaster. If this were the private sector, heads would roll but this is Ottawa on the Rideau so ...

Bottled Water Boycotts: Back-to-the-Tap Movement Gains Momentum - Common Dreams
From San Francisco to New York to Paris, city governments, high-class restaurants, schools, and religious groups are ditching bottled water in favor of what comes out of the faucet. With people no longer content to pay 1,000 times as much for bottled ...

Lansing State Journal's top stories of 2007 - Lansing State Journal
Homicides: Attacks stir fear in Lansing, bring mayor to take action. Downtown: Accident Fund announcement stirs several development projects. MSU football: Spartans earn bid to the Champs Sports Bowl in Orlando, Fla. Claude McCollum: After a year and ...

TheStar.com | Business | Strong loonie helps temper inflation rate - Toronto Star
OTTAWA–Canada continued to dodge the global inflation bullet last month, as the annual rate slipped to 1.4 per cent from 1.8 per cent in February. That’s the lowest inflation rate since January 2007, and marked a fourth straight month in which ...

Quebec's housing market continues to soften, says RBC - CNW Group
MONTREAL, Jan. 24 /CNW/ - Quebec's housing affordability continued to deteriorate throughout 2007, according to the latest Housing Affordability report released today by RBC Economics. "Modest price gains, combined with some mortgage rate relief in ...

B.C. housing market most unaffordable on record, but improvements in ... - CNW Group
TORONTO, March 14 /CNW/ - British Columbia's affordability conditions deteriorated across every housing segment at the end of 2007, and the province remained the least affordable province in Canada to purchase a home, according to the latest housing ...

Canada's economy continues to heat up - Edmonton Journal
Natalie Portman attacks a fascist Britain - and the English language - in this muddled ... and his scenes, which need to bristle with emotion and wit, are static (it’s pretty ...