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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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Term
Definition
Sale-leaseback
A transaction in which the buyer leases back the property to the seller for a specified period of time.
Sales contract
A contract signed by the buyer and sellerthat details the terms of a home purchase.
Saltbox style
A design that dates to colonial times and takes its name from the shape of saltboxes.
Sanitary sewer
The drain line in a house that carries away food and human wastewater to a municipal sewer system or a septic system.
Sash
One of two windows in a double-hung window.
Schematic designs
Renderings of floor plans and the exterior of a house.
Second mortgage
Another loan placed upon a piece of property.
Secondary mortgage market
A market of packaged home loans that are resold as securities to investors. Major players are Fannie Mae and Freddie Mac.
Secured loan
Any loan backed by collateral.
Security
Apiece of property designated as collateral.
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