Mortgage rates edge down, still above record lows – Yahoo! News
WASHINGTON – Rates for 30-year home loans edged down this week, remaining close to record lows reached over the spring.
The average rate for a 30-year fixed mortgage was 5.08 percent, down from 5.14 percent a week earlier, mortgage company Freddie Mac said Thursday. Rates, while [...]
R. Stan Puckett will retire as chairman and chief executive officer of Green Bankshares Inc. and subsidiary GreenBank on March 31, 2010, a statement earlier this month said. Realty Finance Corp. and E*TRADE Financial Corp. also announce the retirment of their respective chairmen. Jeffrey S. Detwiler has been named president and chief operating officer of [...]
Chicago’s Corus Bank, N.A., was closed by the Office of the Comptroller of the Currency. The Minnesota Department of Commerce seized Brickwell Community Bank. Venture Bank was shut down by the Washington Department of Financial Institutions. First National Bank of the South issued a letter indicating that it "made a strategic decision to withdraw from [...]
What the Heck is a Jumbo Loan?
Jumbo loans: Are the better or worse than traditional loans? Find out here.
A jumbo loan is a non-conforming loan in the sense that it does not conform to the usual standards of underwriting for Fannie Mae and Freddie Mac, the two pseudo-government loan agencies responsible for buying and reselling [...]
Amortization is a term associated with mortgage loans and is mainly used in relation to loan repayments. Technically defined, amortization is an accounting method in which expenses are accounted for over the useful life of the asset rather than at the time they are incurred. Amortization is similar to depreciation in that the [...]
Home Equity Loan vs Line of Credit
Understanding the differences between home equity loans and home equity lines of credit by comparing the pros and cons of availing a home equity loan vs line of credit.
Understanding Home Equity Loans and Home Equity Lines of Credit
A homeowner can use the built up home equity to avail a [...]
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The Federal Bureau of Investigation announced that a criminal complaint was filed against the president and chief executive officer of Worldwide Financial Resources. The New Jersey firm collapsed in August. As Worldwide began suffering a liquidity crunch, it allegedly started selling the same loans to multiple lenders.Read more…
Refinance loan applications increased by nearly one-quarter in the Mortgage Bankers Association’s latest weekly application survey. The spike pushed overall applications up 17 percent. Meanwhile, the five-year hybrid adjustable-rate mortgage averaged 8 basis points less than the prior week in Freddie Mac’s weekly rate survey.Read more…
Mortgage Rates ExplainedIf you plan to purchase a home, you may have a few questions about mortgages and the way in which they calculate the rates. First, you will find a mortgage lender that will provide you with the funds to purchase the home. You will have to find
