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News about Mortgages:
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Alex Salmond's HBOS claims disputed by Chancellor and business leaders - Daily TelegraphAlistair Darling ridiculed Mr Salmond's insistence that the bank was in rude financial health until 'spivs and speculators' plotted to bring it down at the beginning of last week, precipitating its takeover by Lloyds TSB. The First Minister's claim ...
Petrol companies told to cut prices at pumps - Times OnlinePetrol and energy suppliers came under fire from ministers yesterday in an attempt to shame them into cutting pump prices and household bills. Emboldened by international praise for tackling the banking crisis, Gordon Brown accused petrol retailers ...
Government subsidy signals smoother ride for FirstGroup - HeraldFirstgroup shares gained yesterday after a difficult few weeks as the company sought to convince investors that any pressure on UK rail revenues would be offset by government subsidies and long-term contracts for its US buses. The Aberdeen-based ...
Darling details £50 billion bank bailout plan - Times OnlineChancellor Alistair Darling today launched a drastic rescue of Britain's high street banks in move designed to head off a cataclysmic failure of confidence by announcing a part-nationalisation plan with £50 billion of taxpayers' money. He said there ...
Today's Mortgage Terms starting with I
Index: An index is usually a widely published market rate such as LIBOR, T-Bill or 11th District Cost of Funds (COFI). Lenders use these indices to set the interest rates charged on mortgage loans. For ARM, a predetermined margin is added to the index to calculate the interest rate adjustment.
Initial Rate: The rate charged for the first interval of an ARM loan.
Interest: Compensation in the form of money paid for the use of money.
Interest Rate Cap: Caps limit the range that the interest rate on an adjustable rate mortgage can change in an adjustment interval during the term of the loan.
View all Terms