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Board grants authority to approve rates - Olney Daily Mail
East Richland School District Board of Education approved a resolution during its monthly meeting Thursday night that allows Superintendent Marilyn Holt and President Dr. Gerald Mastio to approve interest rates for the sale of school fire-prevention ...

Business Briefs - March 2008 - Everett Herald
A helicopter flight school at the Arlington Airport has closed, and local students are out tuition money after the school’s Nevada-based operator filed for bankruptcy. The Silver State Helicopters school in Arlington, along with more than 30 other ...

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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.

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