mortgage interest rate
51Mortgage — A mortgage is the pledging of a property to a lender as a security for a mortgage loan. While a mortgage in itself is not a debt, it is evidence of a debt. It is a transfer of an interest in land, from the owner to the mortgage lender, on the… …
52Interest-only loan — An interest only loan is a loan in which for a set term the borrower pays only the interest on the principal balance, with the principal balance unchanged. At the end of the interest only term the borrower may enter an interest only mortgage, pay …
53Mortgage broker — A mortgage broker acts as an intermediary who brokers mortgage loans on behalf of individuals or businesses. Traditionally, banks and other lending institutions have sold their own products. However as markets for mortgages have become more… …
54Mortgage industry of Denmark — The mortgage industry of Denmark has proved very effective in providing borrowers with flexible and transparent loans on conditions close to the funding conditions of capital market players. Simultaneously, the covered mortgage bonds[1] transfer… …
55Mortgage Investment Corporation — A Mortgage Investment Corporation or MIC is an investment and lending company designed specifically for mortgage lending (primarily residential mortgage lending) in Canada. Owning shares in a Mortgage Investment Corporation (MIC) enables you to… …
56Mortgage Index — The benchmark interest rate an adjustable rate mortgage s fully indexed interest rate is based on. An adjustable rate mortgage s interest rate, known as the fully indexed interest rate, is comprised of an index value plus a margin. The margin… …
57Rate-Improvement Mortgage — A type of fixed rate mortgage, which contains a clause that entitles the borrower to reduce the fixed interest rate charge on the mortgage once, and early in the mortgage. The option will be exercised when interest rates fall lower then the… …
58rate — The cost of debt service paid by a borrower or issuer to a lender or investor. The rate is expressed as an annual percentage of the amount borrowed. For some notes and bonds that pay interest semiannually, the semiannual interest due to the… …
59Mortgage servicer — A mortgage servicer is the company that borrowers pay their mortgage loan payments to. Mortgage servicers either purchase or retain mortgage servicing rights that allow them to collect payments from borrowers in return for a servicing fee. The… …
60Mortgage Rate — The rate of interest charged on a mortgage. Mortgage rates are determined by the lender in most cases, and can be either fixed (stay the same for the term of the mortgage) or variable (fluctuate with a benchmark interest rate). Mortgage rates… …
