Mortgage

RECENT NEWS
New York Times  Jun 24  Comment 
The government has closed the books on its inquiry into Angelo Mozilo, the former leader of Countrywide, but the company’s deeds have had long-lasting impact.
newratings.com  Jun 24  Comment 
LONDON (dpa-AFX) - U.K. mortgage approvals increased in May despite fears of 'Brexit', the British Bankers' Association reported Friday. The number of mortgages approved for house purchases rose unexpectedly to 42,187 in May from...
MarketWatch  Jun 23  Comment 
Rates hold near three-year lows, mortgage provider Freddie Mac said.
Forbes  Jun 23  Comment 
Mortgage rates were little changed, averaging 3.56 percent from from 3.54 percent a week earlier. A year ago, a 30-year, fixed-rate home loan was 4.02 percent, according to Freddie Mac.   It can’t be said enough — home loans are really...
Clusterstock  Jun 22  Comment 
WASHINGTON (Reuters) - Some mortgage servicers are failing to follow federal rules intended to help struggling borrowers avoid foreclosure, often because they use faulty technology, the U.S. agency charged with protecting consumers' finances said...




 
TOP CONTRIBUTORS

A mortgage is a method of using property (real or personal) as security for the performance of an obligation, usually the payment of a debt.

The term <a href="http://www.bankrate.com/>mortgage</a> refers to the legal device used for this purpose, but it is also commonly used to refer to the debt secured by the mortgage, the mortgage loan. With the advent of the mortgage backed securities, the market for mortgage loan has been growing quickly and is estimated as large as the Treasury debt market.

In most jurisdictions mortgages are strongly associated with loans secured on real estate rather than other property (such as ships) and in some cases only land may be mortgaged. Arranging a mortgage is seen as the standard method by which individuals and businesses can purchase residential and commercial real estate without the need to pay the full value immediately.

The interest rate required of a mortgage is determined by the credit rating of the borrower -- most often divided into prime and subprime mortgage. It may also be related to the strategy of the lender in that, depending on growth targets and competition, the lender may offer more competitive rates.

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