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Fixed rate mortgages steady, Adjustable Rate’s fall

Fixed rate mortgages steady, Adjustable Rate’s fall

This is a discussion on Fixed rate mortgages steady, Adjustable Rate’s fall within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; The average conforming 30-year fixed mortgage rate backtracked to 6.13 percent, according to their weekly national survey of large lenders. ...

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Mortgage Know-How A mortgage is the transfer of an interest in property (or the equivalent in law - a charge) to a lender as a security for a debt - usually a loan of money. While a mortgage in itself is not a debt, it is the lender's security for a debt. It is a transfer of an interest in land (or the equivalent) from the owner to the mortgage lender, on the condition that this interest will be returned to the owner when the terms of the mortgage have been satisfied or performed. In other words, the mortgage is a security for the loan that the lender makes to the borrower.

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05-10-2008, 06:13 AM

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Fixed rate mortgages steady, Adjustable Rate’s fall

The average conforming 30-year fixed mortgage rate backtracked to 6.13 percent, according to their weekly national survey of large lenders. The average 15-year fixed rate mortgage popular for refinancing was unchanged at 5.71 percent, ...

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adjustable, fall, fixed, mortgages, rate, rate’s, steady

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