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Real Estate Blog - Mortgage Rates Experience Historic Drop

Real Estate Blog - Mortgage Rates Experience Historic Drop

This is a discussion on Real Estate Blog - Mortgage Rates Experience Historic Drop within the Mortgage Know-How forums, part of the Mortgage and Loans Forum category; Mortgage rates experienced a historic drop this month. 30 Year rates fell from 5.97 to 5.53. This is the lowest ...

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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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12-09-2008, 06:01 AM

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Real Estate Blog - Mortgage Rates Experience Historic Drop

Mortgage rates experienced a historic drop this month. 30 Year rates fell from 5.97 to 5.53. This is the lowest rates have been since January 2008. But I think this understates how low bmortgage/b rates are this week so I did a little b.../b

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