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

Wells mortgage quotes news:

TREASURIES-Bonds mostly ease as investors wary of low yields - Reuters
NEW YORK, Dec 4 (Reuters) - U.S. Treasuries mostly eased on Thursday as investors balked at buying government debt after a recent price surge that pushed yields to the lowest in over 50 years. Losses were limited however by data showing the U.S ...

Stock & fund quotes - ninemsn
JPMorgan Chase & Co said Monday it will cut a total of 9,200 jobs at Washington Mutual, which it acquired on Sept 25 after Washington Mutual became the largest US bank to fail amid the ongoing credit crisis. Of the 9,200 jobs being eliminated as ...

Upcoming Quarters Don't Look Good for CIBC - Dundee Securities - Seekingalpha.com
CIBC was downgraded to a “sell” by Dundee Securities analyst John Aiken after the bank reported its quarterly results Thursday morning. While he does not believe CIBC will need to raise more common equity in the near term, the bank “may not be ...

Register for FREE - Wall Street Journal
Please register to gain free access to WSJ tools. An account already exists for the email address entered. It is amazing what a trust fund can do. Two weeks ago, Wachovia couldn’t get arrested. It was scorned by analysts, a pain to investors and ...

Open-and-Shut Case for Closed-End Bond Funds - Barron's Online
SOMETIMES, IT'S SAID the best place to find oil is on the New York Stock Exchange. Rather than explore and drill wells, oil companies can find proven reserves represented by the shares of their rivals traded on the Big Board. Some savvy bond ...

Mumbai Terrorism Clouds Templeton's 'Buy India' Call - Seekingalpha.com
As the Asian markets await full details on the plot behind Wednesday’s terrorism in India’s principal business city of Mumbai (aka Bombay), 5-year credit default swap spreads for 5-year government-owned State Bank of India widened to around 465 ...

IPO VIEW-Fewer IPOs going back for seconds - Forbes
NEW YORK, Nov 28 (Reuters) - Investors are showing scant appetite for follow-on share offerings by new public companies, signaling that even those that have pulled off an IPO in the current climate will find it hard to come back for seconds. The ...

DEALTALK-Bank of America-Merrill vote now one of necessity - Forbes
NEW YORK, Dec 2 (Reuters) - Bank of America Corp and Merrill Lynch & Co shareholders may vote 'yes' on the companies' merger because of the consequences of voting 'no.' Merrill was arguably saved from extinction when it agreed to merge on Sept. 15 ...

Governor looks at changes to gas tax - ksl.com
are still a long ways out. Gov. Johnny Boy wants to exploit this now! And Utahns voted this schmuck in almost unanimously! It's mind boggling when you consider what a flaming liberal he is. I'm even a little bothered by KSL's dishonesty in this ...