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California Mortgage Rates
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Todays Best Mortgage Rates
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Mortgage Rates Trend
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Mortgage Rates explained by videos
Video on "What is a Mortgage" The Basics of Mortgage and Home Ownership
A sample from the video "A mortgage is a loan by a bank or other financial institutions that a person can use to finance the purchase of the home. A mortgage is different from other looks like personal more student loans since the bank can you answer house as collateral. Meaning, if you don't pay the bank back on time they can take possession of your home."
A more complex video explaining factors that influence mortgage rates today
Selected quotes from the video include: "It all starts with securitization that's where we take a bunch of individual mortgages and put them together into a giant pool of mortgage loans. That pool of mortgage loans is further segmented down in a mortgage bonds which themselves are classified based upon their risk profile. From triple-a rated bonds, lowest response bonds, to unrated or junk bonds, bonds the highest risk."
"Mortgage-backed securities are traded every day just like stocks and like stocks mortgage-backed securities are very volatile, which means that they move up and down throughout the day in from day to day. Now the price of these bonds in the mortgage rates that are tied with them move a lot like a teeter-totter meaning that when one goes up the other goes down and vice versa"
Mortgage Rates Today Basics
First time applying for a mortgage? There are a number of basic terms that you need to be familiar with to start your education. Learning about mortgages now will help you decide which is best. A key thing to remember, a lower rate is not always better.
Basic Mortgage Terms
The principle is the amount of money you borrow for purchase of your home
The Down Payment is the amount of money you provide to the bank at the time you purchase the property. The amount of the down payment will often depend on the cost of the home.
Mortgage Rate Today
The Mortgage Rate Today is the percentage of interest charged by the bank to borrow money for the purchase of the home. Mortgage Rates vary dramatically depending on a variety of economic factors
The interest rate of the mortgage is the same as the Mortgage Rate Today. Interest rates are applied mathematically to the amount of the loan by the borrower. Interest rates are commonly compared by people seeking mortgages to decide which bank will result in the borrower paying the lowest payments.