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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

Houston mortgage rates news:

Subprime Devastation Retraces Path of S&L Crisis in U.S. States - Bloomberg
Oct. 8 (Bloomberg) -- The $700 billion bailout of Wall Street's subprime-tainted securities harkens back to the real- estate bets that sparked the savings and loan crisis in the 1980s. The geography's the same, too. Then, as now, the government ...

Some house hunters are getting cold feet - Houston Chronicle
Tracie Staten has everything she needs to buy a house: a down payment, great credit and a job. But with the nation's economy in turmoil, she lacks the one thing required to move forward — confidence. "I don't want to get this house and all of a ...

Stocks Unimpressed With Fed Moves - Click2Houston.com
Frantically trying to thaw frozen lending and get the economy moving again, the Fed for the first time said it would lend directly to businesses that aren't banks and hinted that it could slash interest rates soon. Stocks continued their free fall ...

Dow closes 348 down as fear of recession grows - Houston Chronicle
NEW YORK -- Pessimism about a protracted economic downturn washed over the financial markets Thursday, sending stocks plunging and further tightening the credit markets. Reports on declining factory orders and a seven-year high in jobless claims ...

World Markets Rebound Some After Tumble - Click2Houston.com
Asian stocks are showing signs of life after opening sharply lower. Several markets climbed into positive territory or pared losses after a global market rout the previous day. Australian stocks jumped after its central bank cut interest rates by a ...

Plunge in markets brings another kind of depression - Los Angeles Times
A Porter Ranch man who murdered his family and killed himself last weekend as he faced financial ruin is the latest and most extreme case of a wave of distress washing over the American psyche. Karthik Rajaram, an unemployed financial advisor, left a ...

Business Minute: Tough week...Bailout deal done...Charlotte's ... - Idaho8.com
NEW YORK (AP) - Stocks finished a brutal week on a down note. The Dow fell 157 points to 10,325. It was down more than 7% for the week. WASHINGTON (AP) - Now that the financial package has been signed, Treasury Secretary Henry Paulson is pledging to ...

Libor Mystifies Americans as Mayor Reads `Doomsday' (Update2) - Bloomberg
Oct. 3 (Bloomberg) -- Anisha Gupta, returning clothes to a Hugo Boss store on Rodeo Drive in Beverly Hills, shrugged when asked about Libor. She had heard the term. She wasn't sure she could define it. ``I thought it was a pill,'' said Gupta, an ...

Seattle-area prices keep low-risk rating - Seattle Post Intelligencer Blogs
Seattle-area prices have just a 2.3-percent likelihood of being lower in two years, according to a new report . Mortgage insurer PMI Group based its report on second-quarter data from the Office of Federal Housing Enterprise Oversight. The Seattle ...

Take Steps To Avoid Outliving Your Nest Egg - CNBC
Amid the market melee, you may be starting to question the investment strategy behind your battered portfolio, but before you attempt any knee-jerk moves to mitigate risk, consider the impact an uber conservative investment stance might have on your ...