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Weekly Mortgage Rates
30 Year Fixed
5.00 %
15 Year Fixed
4.36 %
1 Year ARM
4.07 %
Freddie Mac Natl. Avg.
Updated 5/6/2010
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J
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Term
Definition
Jalousie window
A window that consists of vertical rows of horizontal glass slats that operate together by a crank mechanism that connects all the slats.
Joint liability
The responsibility of two or more people to fulfill the terms of a home loan or debt.
Joint tenancy
Ownership by two or more people that gives equal shares of a piece of property Rights pass to the surviving owner or owners.
Joist
A floor or ceiling support member supported by foundation walls, piers or beams. Subflooring is connected to floor joists.
Judgment
The decision of a court or law. If a court decides that a person must repay a debt, a lien may be placed against that person's property.
Judicial foreclosure
A procedure to handle foreclosure proceedings as civil matters.
Jumbo mortgage
Loans that exceed limits set by Fannie Mae and Freddie Mac. The current limit currently $214,600.
Junior mortgage
A loan that subordinate to the primary loan.
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