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Mortgage Rates - New Jersey October 11th, 2008

Mortgage Rates - New Jersey October 11th, 2008

This is a discussion on Mortgage Rates - New Jersey October 11th, 2008 within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Loan Type, Today, Last Week. 15 Year Fixed. 6.187%, 6.167%. 30 Year Fixed. 6.572%, 6.522%. 1 Year ARM. 5.539%, 5.620%. ...

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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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10-11-2008, 08:54 PM

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Mortgage Rates - New Jersey October 11th, 2008

Loan Type, Today, Last Week. 15 Year Fixed. 6.187%, 6.167%. 30 Year Fixed. 6.572%, 6.522%. 1 Year ARM. 5.539%, 5.620%. 5/1 Year ARM. 5.605%, 5.681%. Read the rest of this great post here.

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