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City Lakes Real Estate Blog©: Mortgage Rate Rally Continues

City Lakes Real Estate Blog©: Mortgage Rate Rally Continues

This is a discussion on City Lakes Real Estate Blog©: Mortgage Rate Rally Continues within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Mortgage rates barreled lower a second straight day today, dropping from 5 5/8% to 5 3/8% for thirty year loans. ...

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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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11-27-2008, 12:10 AM

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City Lakes Real Estate Blog©: Mortgage Rate Rally Continues

Mortgage rates barreled lower a second straight day today, dropping from 5 5/8% to 5 3/8% for thirty year loans. That brings the two-day drop to almost a full point, roughly equivalent to a 1000 point rally in the Dow Jones average b.../b

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