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Rates Decline on Mortgages

Rates Decline on Mortgages

This is a discussion on Rates Decline on Mortgages within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; SEPTEMBER 19 2008 - Home- mortgage rates fell again this week, sending the rate on the 30-year fixed-rate mortgage down ...

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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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09-19-2008, 04:33 PM

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Rates Decline on Mortgages

SEPTEMBER 19 2008 - Home-mortgage rates fell again this week, sending the rate on the 30-year fixed-rate mortgage down for a fifth straight week to its lowest level since February, Freddie Mac said. ...

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