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Wall Street rises after report on economy - International Herald TribuneNEW YORK : Stocks on Wall Street ended higher Thursday, swinging across a wide range as investors weighed a painful report on the country's economy against signs that the flow of credit had been restored. The Dow Jones industrial average closed 189 ...
Sunday: Highlights from today's Birmingham News - Everything Alabama BlogJefferson County Commission and Gov. Bob Riley are hoping the $700 billion bailout could help the county refinance $2.7 billion of its sewer debt on more affordable terms, avoiding bankruptcy. Both presidential candidates pledge strong support of ...
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