The Mortgage Applications Weekly Survey is conducted each week by the Mortgage Bankers Association (MBA) to collect and analyze US mortgage application activity.
Each week, the MBA uses the Weekly Mortgage Application Survey to publish reports and commentary on the status of real estate finance, including new home purchases, refinances, and mortgages.
The weekly review of applications has been conducted since 1990, and since its launch, its indexes have been the leading indicators in the field of housing and mortgage finance.
2/28 adjustable rate mortgages (ARM) offer an initial fixed rate for two years, after which the interest rate is adjusted semi-annually for another 28 years.
An 80-10-10 mortgage consists of two mortgages: the first is a fixed-rate loan of 80% of the value of the home; the second - 10% as a loan secured by equity capital; and the remaining 10% as a down payment in cash.
A movable property loan is secured by a movable item or movable property that is used to purchase the loan. The creditor has the right of ownership of the movable property.
The holiday act literally releases the parties to the transaction from previous obligations, such as payments on the terms of the mortgage, because the loan is repaid.
An FHA 203(k) loan is a government-secured mortgage loan, which is essentially a construction loan that finances both the purchase and renovation of a home.