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The Housing Bottom Blog: Mortgage Rates Crash: 5.5% for 30-Year Fixed

The Housing Bottom Blog: Mortgage Rates Crash: 5.5% for 30-Year Fixed

This is a discussion on The Housing Bottom Blog: Mortgage Rates Crash: 5.5% for 30-Year Fixed within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; During the first few years of a bmortgage/b, you are paying mostly interest…meaning that, if you refinance every few years, ...

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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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11-26-2008, 02:53 AM

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The Housing Bottom Blog: Mortgage Rates Crash: 5.5% for 30-Year Fixed

During the first few years of a bmortgage/b, you are paying mostly interest…meaning that, if you refinance every few years, you are never going to make any progress towards the principle. You might be better off keeping you higher rate if b.../b

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30year, 55%, blog, bottom, crash, fixed, housing, mortgage, rates

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