Today's Mortgage Terms starting with J

Jumbo Loan:

A mortgage over the $300,700 limit established by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. A jumbo mortgage tend to carry a higher interest rate than a conventional mortgage.

Junior Mortgage:

A mortgage subordinate to the claim of a prior lien or mortgage. In the case of a foreclosure, a senior mortgage or lien will be paid down first.

View all Terms

Rock mortgage rates news:

Mortgage rates tumble - Daily Telegraph
The average fixed mortgage rate has dropped to pre-credit-crunch levels, with Abbey the latest bank to slash the cost of borrowing. The Spanish-owned lender is cutting the rates for new borrowers on two, three and five year fixed-rate home loans by ...

Let's skip biography and get to economy - Baltimore Sun
N o wonder both presidential candidates are promising change. Even the stupid don't need to be reminded that, yet again, it really is the economy that will dominate voters' concerns. Especially the last couple of days. After a fortnight of diverting ...

McCain's Annoying Little Fraud - Slate
( Pierre, S.D .) McCain would like everyone to think his campaign imploded last summer because of his courageous support for the surge in Iraq : I fought for the right strategy and more troops in Iraq, when it wasn't a popular thing to do. And when ...

Credit crunch fallout will cast a long shadow - Globe and Mail
CALGARY -- Need a loan? Better know how to sweet-talk your banker. A good credit rating is essential, but flowers or hand-held electronic gadgets may also be required. The most important thing to take when you visit your banker, however, is ...

How Britain can boom again - Daily Telegraph
MI5 used to plan for civil emergencies on the assumption that British society was four square meals from anarchy: deprive the populace of food for 36 hours, and the law of the jungle takes over. On Friday morning, I discovered it was only four bus ...

Retail, unemployment rock markets - Elkhart Truth
NEW YORK -- Dejected investors sent stocks plunging Thursday, hurtling the Dow Jones industrials down more than 340 points after retailers and the government added to a mountain of bad economic news and devastated hopes for a late-year recovery. The ...

WEEKLY TREASURY UPDATE - Gulf Times
THIS WEEK saw increased volatility in currency markets. Investors were awaiting the European Central Bank and Bank of England decisions on interest rates. To no surprise, both kept rates unchanged at their current respective levels of 4.25% and 5 ...

Take a Load Off Fannie: Bailout or Nationalization for the Mortgage ... - OpEdNews.com
"Take a load off Fanny, take a load for free; t ake a load off Fanny, and (and) (and) y ou put the load right on me." -- The Band, "The Weight" (1968) Fannie Mae and Freddie Mac own or guarantee nearly half the $12 trillion U.S. mortgage market. Not ...

Russia: Kremlin wins war but faces new battle as investors scramble ... - Guardian Unlimited
For Russia's leadership, it seemed everything had gone right. In three weeks, the country had invaded Georgia, crushed its military and defied international opinion by recognising the breakaway republics of South Ossetia and Abkhazia. Western threats ...

Foreclosure Effect on Home Prices May Be Small - Wall Street Journal
Even though data Friday from the Mortgage Bankers Association indicated that U.S. foreclosures hit a record in the second quarter, that won’t necessarily translate into big declines in home prices. (Getty Images) That appears to be the conclusion ...