Today's Mortgage Terms starting with P

Payment Cap:

A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.

Point:

A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.

Pre-Approval:

The process of calculating how much money a potential homebuyer could borrow.

Prepayment Penalty:

A lender's charge to the borrower for paying down the loan before the end of its term.

Pre-Qualification:

A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.

Principal:

It is the amount of money borrowed or owed, excluding interest.

View all Terms

York mortgage quotes news:

US PURCHASE MORTGAGE APPS INDEX CLIMBED 3.2 PCT TO 314.5 IN WEEK ... - Forbes
NEW YORK NEW YORK, Oct 8 (Reuters) - US PURCHASE MORTGAGE APPLICATIONS INDEX CLIMBED 3.2 PCT TO 314.5 IN WEEK ENDING OCT 3 Applications for U.S. residential mortgages climbed last week from the lowest level in a month as home loan rates declined ...

US AVERAGE 30-YR MORTGAGE RATE FELL TO 5.99% LAST WEEK FROM 6.07% IN ... - Forbes
NEW YORK NEW YORK, Oct 8 (Reuters) - US AVERAGE 30-YEAR MORTGAGE RATE FELL TO 5.99 PCT LAST WEEK FROM 6.07 PCT IN PREVIOUS WEEK Applications for U.S. residential mortgages climbed last week from the lowest level in a month as home loan rates declined ...

Stock & fund quotes - ninemsn
World oil prices rose slightly in Asia Tuesday following a near 10 per cent drop in New York after US legislators dramatically rejected a plan to bail out the ailing financial sector. The rescue plan proposed the purchase of up to $US700 billion ...

'New York Times' To McCain: You're 'Appalling' - The Bulletin
Sen. John McCain and Gov. Sarah Palin have been running one of the most appalling campaigns we can remember," the editorial said. "They have gone far beyond the usual fare of quotes taken out of context and distortions of an opponent's record - into ...

Furthermore … - Fort Wayne Journal Gazette
While federal officials struggle to get a handle on the massive ramifications of the mortgage meltdown, the sheriff serving Greater Chicago has taken some direct action on the front lines. Concerned that renters were being thrown out of homes even ...

Steady Rates Prevail in Mortgage Market, Despite Continued Upheaval in ... - PR Newswire
SEATTLE, Oct. 7 /PRNewswire/ -- Mortgage rates remained steady over the past week, with rates for 30-year fixed mortgages increasing slightly to 5.97 percent, up from 5.96 percent the week prior, according to the Zillow Mortgage Rate Monitor ...

Cox's SEC Censors Report on Bear Stearns Collapse (Update2) - Bloomberg
Oct. 7 (Bloomberg) -- U.S. Securities and Exchange Commission Chairman Christopher Cox 's regulators stood by as shrinking capital ratios and growing subprime holdings led to the collapse of Bear Stearns Cos., according to an unedited version of a ...

top stories in Opinion - Wall Street Journal
1 of 10 In a September 1984 campaign speech, Walter Mondale, the Democratic presidential nominee and former vice president, asked, "Do you really want Jerry Falwell to pick the next two judges to the Supreme Court?" What reminded us of this was a ...

Cox's SEC Censored Paper Showing It Ignored Bear Stearns Plunge - Bloomberg
Oct. 7 (Bloomberg) -- U.S. Securities and Exchange Commission Chairman Christopher Cox 's regulators stood by as shrinking capital ratios and growing subprime holdings led to the collapse of Bear Stearns Cos., according to an unedited version of a ...

MAC'S SURPRISE WEAPON: BUBBA - New York Post
WASHINGTON - John McCain unveiled a new ad yesterday quoting a surprising figure slamming Democrats for the country's economic mess - Bill Clinton. The ad credits McCain with pushing to tighten regulations on lending institutions - then charges that ...