Current Mortgage Rate
Current Mortgage Rate
Current Mortgage Rate

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Real Estate Terms of the Day for Current Mortgage Rate



PREPAYMENT
Full or partial repayment of the principal before the contractual due date.

SUBORDINATION AGREEMENT
An agreement whereby a prior mortgagee agrees to subordinate or give up their priority position to an existing or anticipated future lien.

VOID
Having no legal force or binding effect; a nullity; not enforceable. A contract for an illegal purpose (i.e. gambling)is void.

MALL
A landscaped public area set aside for pedestrian traffic.

PRIVATE MORTGAGE INSURANCE
A special form of insurance designed to permit lenders to increase their loan-to-market-value ratio, often up to 95 percent of the market value of the property.

PROPERTY MANAGEMENT
That aspect of real estate devoted to the leasing, managing, marketing and overall maintenance of the property of others.

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