How Market Conditions Affect Interest Rates
When the Chairman of the Federal Reserve lowers “rates,” he lowers the “Federal Funds” rate. It's the interest rate at which large banks lend funds to one another and is a “short-term” rate. Mortgage
http://www.brokeroutpost.com/reference/11836.htm (Updated: 09/09/2008)

30 year Fixed Mortgage Rates
Rates on 30 year fixed mortgages are set and will not change for the life of your loan, up to 30 years or until you refinance or pay off the loan.
http://www.brokeroutpost.com/reference/130141.htm (Updated: 10/09/2007)
Related Reference Topics: [30 year fixed, mortgage, rates]

Lowest Mortgage Rate
The lowest mortgage rate is a relative term. The lowest rate that you qualify for in your home may be different than the lowest rate that your neighbor qualifies for with the exact same home. The low
http://www.brokeroutpost.com/reference/32283.htm (Updated: 06/25/2007)
Related Reference Topics: [low mortgage rates]

MTA Index Refinance
MTA stands for Monthly Treasury Average, and is also know as the MAT or 12 MAT. The MTA or MAT index is a relatively slow moving ARM index based on the 12 month average of the monthly average yields
http://www.brokeroutpost.com/reference/107005.htm (Updated: 06/24/2007)
Related Reference Topics: [mta, mat, option arm, fixed, arm, index]

Fixed Rates, Lowest Payments
Love it or hate it, the Payment Option ARM or Pick a Pay mortgage has become one of the most popular home loans in the USA, accounting for over 40% of new loans since 2005, and is definitely the faste
http://www.brokeroutpost.com/reference/74045.htm (Updated: 06/24/2007)

Debt Consolidation Refinance
Many homeowners use the equity in their home to pay down or pay off their revolving credit card debt. This is even more so now that the credit card companies have increased their minimum payment requ
http://www.brokeroutpost.com/reference/20074.htm (Updated: 05/31/2007)
Related Reference Topics: [refinance, debt consolidation]

Loan Program vs Interest Rates
When shopping for a mortgage the most important factor is the loan program, not the rate you see. Don't be misled by a lowball rate and be sure to check out the specific details of the loan program. M
http://www.brokeroutpost.com/reference/36936.htm (Updated: 05/30/2007)
Related Reference Topics: [lowball rates]

What Length Mortgage Loan Should I Get?
When considering the length (or term) for your mortgage will depend on many key factors. Considerations need to be made on your current financial situation and your goals for the future. You will need
http://www.brokeroutpost.com/reference/23500.htm (Updated: 05/25/2007)
Related Reference Topics: [mortgage term, 30 years, 15 year, 10 year]

30 Year Fixed Rate Mortgage
a mortgage in which the interest rate remains the same for the life of the loan. Payments are amortized for 30 years. In other words, payment is calculated in such a way that the borrower makes equa
http://www.brokeroutpost.com/reference/25183.htm (Updated: 05/25/2007)

What is amortization and how does it work?
What is amortization? This is the lifetime of your loan. For example, most mortgages have an amortization of 30 years, meaning your mortgage will be paid off after 30 years.
http://www.brokeroutpost.com/reference/109823.htm (Updated: 05/08/2007)
Related Reference Topics: [amortization]

7 Year Fixed Rate Hybrid Mortgage
sometimes referred to as the "7 1", the 7-Year Fixed Rate Loan is a mortgage where the interest rate is fixed for 7 years. After the 7-year fixed period, the interest rate adjusts, usually once a yea
http://www.brokeroutpost.com/reference/25190.htm (Updated: 03/16/2007)
Related Reference Topics: [fixed rate, hybrid]

5 Year Fixed Rate Hybrid Mortgage
a mortgage program in which the interest rate remains the same for the initial 5 years. At the end of the fifth year, the mortgage turns into an Adjustable Rate Mortgage for the remainder of the loan
http://www.brokeroutpost.com/reference/25189.htm (Updated: 03/16/2007)
Related Reference Topics: [fixed rate, hybrid]

1% Mortgage Refinancing
1% mortgages are widely advertised, and for many borrowers offer the opportunity to unlock their home equity on an ongoing basis by deferring interest in exchange for additional cash flow. 1% mortgag
http://www.brokeroutpost.com/reference/94219.htm (Updated: 02/22/2007)
Related Reference Topics: [option arm, fixed, 1%]

Home Mortgage
A Home Mortgage used to be, something you obtained when you bought your home and then made payments on for 30 years. In today's Home Mortgage environment, you may refinance your Home Mortgage several
http://www.brokeroutpost.com/reference/29021.htm (Updated: 04/02/2006)

Amortization
Repayment of a mortgage loan through monthly installments of principal and interest; the monthly payment amount is based on a schedule that will allow you to own your home at the end of a specific tim
http://www.brokeroutpost.com/reference/10970.htm (Updated: 03/29/2006)

Misleading marketing to watch out for
There are many unethical mortgage brokers and loan officers in the industry. They often use misleading marketing and ethically questionable tactics to get your business. Here are just a few things a
http://www.brokeroutpost.com/reference/27802.htm (Updated: 03/17/2006)
Related Reference Topics: [marketing, misleading, scams, unethical]

Interest Only Mortgage
An interest only mortgage is a mortgage were the borrower(s) pay only the interest payments on the loan. Generally the term of an interest only mortgage is over 30 years with the interest only period
http://www.brokeroutpost.com/reference/13872.htm (Updated: 02/19/2006)