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Today's Mortgage Terms starting with M Margin: The percentage difference between the index for a specific loan and the interest rate charged. This is a number already set by the lender. Market Value: The price at which a given property or product is transacted between a willing, unhurried buyer and a seller who know all the pertinent facts about the property. Mortgage Banker: A financial institution who directly funds home loans, sells them to investors, arranges monthly payments and handles escrow. Some mortgage bankers sell their loans on the secondary market. Mortgage Broker: A broker arranges financing for borrowers with a variety of lenders. A mortgage broker does not make the loan, but receives payments for its services. Mortgage Insurance: It is insurance to protect the lender in case you default on your loan. With conventional loans, mortgage insurance is generally not required if you make a down payment of at least 20% of the home's appraised value. It is also known as PMI (Private Mortgage Insurance). Mortgage Loan: A loan for which a specific real estate property serves as collateral to provide for repayment in case of default. Mortgage Refinance: A refinanced mortgage is one in which a borrower pays down an old loan with a new loan. People who refinance a mortgage tend do so to get a lower interest rate, lowering their payments or to take cash out of their home equity. Mortgagee: The lender in a mortgage loan relationship. Property is used as collateral to make payment. Mortgagor: The borrower in a mortgage loan relationship. Property is used as collateral to make payment. View all Terms

York mortgage rates news:

Fannie Mae, Freddie Mac Mortgage-Bond Yields Tumble (Update2) - Bloomberg
Dec. 4 (Bloomberg) -- Yields on Fannie Mae, Freddie Mac and Ginnie Mae mortgage bonds fell as Treasury Secretary Henry Paulson considers a plan to push home-loan rates down to 4.5 percent to curb the yearlong U.S. recession. Yields on Washington ...

Mortgage applications surge by record amount - Washington Post
Resize NEW YORK (Reuters) - Mortgage applications surged by the largest amount on record last week as a new Federal Reserve program pushed interest rates down to their lowest level in more than 3 years, data from an industry group showed on Wednesday ...

U.S. Treasury says eyeing several housing programs - FXStreet.com
CHICAGO, Dec 4 (Reuters) - Lowering U.S. mortgage rates through a program relying on Fannie Mae and Freddie Mac is just one of several options the U.S. Treasury is considering to support housing, a senior Treasury official said on Thursday. "We want ...

Treasury Money Funds Shun New Investors to Protect Yields, Fees - Bloomberg
Dec. 4 (Bloomberg) -- Money-market mutual funds that buy mostly U.S. Treasuries are starting to turn away new investors as the lowest yields on government debt in 50 years pull down returns for shareholders and squeeze managers’ fees. At least ...

Layoffs mount as crisis drags on - Reuters UK
SINGAPORE (Reuters) - Credit Suisse (CSGN.VX: Quote , Profile , Research ) and Nomura Holdings (6501.T: Quote , Profile , Research ) announced big job cuts on Thursday, further evidence the global financial crisis is unrelenting for an industry ...

Home builders' shares soar as mortgage rates plunge - Forbes
NEW YORK (Reuters) - Shares of U.S. home builders rose Thursday as the beleaguered sector, floundering amid a protracted downturn, extended a six-day rally spurred by the largest drop in interest rates on 30-year fixed-rate mortgages in 27 years ...

Sector Snap: Toll 4Q, mortgage rates lift builders - Boston Globe
NEW YORK— Homebuilder stocks continued to rally Thursday, after one of the largest builders reported stronger-than-expected quarterly sales and 30-year mortgage rates dropped to their lowest level since January. Toll Brothers Inc. earlier reported ...

UPDATE 2-US mortgage rates post largest drop in 27 years - FXStreet.com
NEW YORK, Dec 4 (Reuters) - Interest rates on U.S. 30-year fixed-rate mortgages plummeted by the largest amount in 27 years this week after an unprecendented intervention by the Federal Reserve, data from home funding company Freddie Mac showed on ...

US mortgage rates post largest drop in 27 yrs-Freddie Mac - Guardian Unlimited
NEW YORK, Dec 4 (Reuters) - Interest rates on U.S. 30-year fixed-rate mortgages plummeted by 0.44 percentage point in the latest week, the biggest weekly drop in 27 years, according to a survey released on Thursday by home funding company Freddie Mac ...

TREASURIES-Rally on mortgage-related buying, stock slide - Reuters
NEW YORK, Dec 4 (Reuters) - U.S. Treasuries prices rallied on Thursday, propelled by hedging as mortgage rates fell and by the continuing flight to the safety of government debt as stocks fell further. The jump in home owners refinancing their ...