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Mortgage Rates Decline Again

Mortgage Rates Decline Again

This is a discussion on Mortgage Rates Decline Again within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Freddie Mac reports that mortgage rates declined again this week–the US average was 6.35% compared to 6.40% last week for ...

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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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09-05-2008, 12:24 AM

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Mortgage Rates Decline Again

Freddie Mac reports that mortgage rates declined again this week–the US average was 6.35% compared to 6.40% last week for a 30 year fixed conforming loan. August 28, 2008. 30-yr. 15-yr. 5/1-yr ARM. 1-yr ARM. Average Rates:. 6.40%. 5.93% ...

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