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Today's Mortgage Terms starting with D

Default:

Failure to fulfill legal obligations of a contract, including failure to make payments on a loan.

Discounted Loan:

When the note rate on a loan is lower than the market rate, it is a discounted loan.

Discount Point:

A point paid to the lender to permanently lower or acquire down an interest rate. Money must be paid up front to lower the rate.

Down Payment:

The amount of cash you must pay down initially for the purchase of your home. For conventional loans, you should aim for a down payment that's at least 20% of your home's value. The reason is lenders generally do not require private mortgage insurance with a down payment of at least 20% of your home's purchase price.

View all Terms
Grafton mortgage rates news:
Financial News
Crash closes Crites Field in Waukesha - Milwaukee Journal Sentinel
No injuries were reported. Flights were being directed away from the airfield, apparently because plane wreckage was blocking a landing strip. Neither emergency personnel nor airport officials were immediately available for comment. Nov. 26, 2008 2 ...

UPDATE: Crites Field reopens after mishap - Milwaukee Journal Sentinel
Nov. 26, 2008 3:58 p.m. | Waukesha County's Crites Field is now open for air traffic following a mishap this afternoon in which a four-seat aircraft slid off of the main runway into an adjacent muddy field, an airport official said. The pilot decided ...

Lord Mandelson will force banks to open their coffers - Times Online
Banks face legal action if they refuse to resume lending amid dire warnings of a mortgage drought that will bring further misery to homeowners. The Times has learnt that legal curbs will be imposed on banks if they fail to abide by a new code of ...

Stocks fall again; Fed intervenes on lending - Boston Globe
US stocks plunged again yesterday as central bankers around the world rushed to bolster deteriorating financial institutions and restore lending to companies that are cutting back because they are frozen out of credit markets. In the United States ...

Wal-Mart worker killed in bargain-hunting stampede - Globe and Mail
Dick Garneau from Canada writes: Use of cash or debit cards is a good sign. Lets remember food banks and charity in our budgets. 'Eileen Klockow, 41, doesn't expect to start her holiday shopping until mid-December, when the post-Thanksgiving rush ...

Northeast Ohio job losses spread; experts say economy will get worse - Cleveland Plain Dealer Blog
Carlos Osorio/Associated Press The horizon is dark for automakers like General Motors, which has announced plans to layoff 1,000 workers in Lordstown. Economists call it the "paradox of thrift." As job anxiety spreads, nervous consumers are salting ...

Panic wreaks havoc - The Australian
WITH fear rampant from Black Friday, it strains credibility to think that Australia may yet emerge as a survivor of the financial-induced recessions about to engulf much of the industrialised world. Yet it may happen. This is not a foolish ...

State bank profits plummet - Milwaukee Journal Sentinel
Nov. 25, 2008 | One of every six Wisconsin banks posted a loss in the third quarter, figures released Tuesday by regulators show. Although that's better than banks nationally - nearly one in four in the U.S. didn't make a profit in the quarter - it ...

Cleveland Gear plans $14.3 million West Allis expansion - Milwaukee Journal Sentinel
Nov. 12, 2008 | Cleveland Gear Co., a West Allis company that makes assembly equipment, is planning a $14.3 million expansion that will be financed in part through a $10 million industrial revenue bond issue, Gov. Jim Doyle announced today. Cleveland ...

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