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| Bank Rates |
Term |
Our Rates |
| 6.75% | 1 | 5.50% | | 7.25% | 2 | 5.50% | | 7.30% | 3 | 5.50% | | 7.30% | 4 | 5.50% | | 7.30% | 5 | 5.44% | | 7.65% | 7 | 6.20% | | 8.00% | 10 | 6.25% |
| Posted: 7/17/2008, OAC |
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Take advantage of the lowest interest rates in 30 years!
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A-B C-D E-F G-H I-J K-L M-N O-P-Q R-S T-U V-W X-Y-Z
E
Effective interest rate
The actual interest rate on investment where a debt or loan was brought at a discount or at a premium.
Equity
The remaining interest an owner of real property has in its total value after allowing for encumbrances and creditors’ claims.
F
First mortgage
A mortgage on property creating a prior claim over any subsequent mortgages or charges and usually conveying the legal estate to the mortgagee. Upon foreclosure of the mortgage, the first mortgagee must be fully satisfied out of the proceeds before any subsequent claims.
Fixed-rate mortgage
This is the usual form of mortgage where interest rate remains the same during the entire life of the loan.
Floating rate of interest
Rate of interest, which fluctuates a certain number of percentage points above or below prime lending rates.
Foreclosure
Remedial court action taken by a mortgagee when default occurs on a mortgage, to cause forfeiture of the equity of redemption of the mortgagor.
Freehold
The ownership of a tract of land on which the building(s) are located. The most common type of ownership of real estate.
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