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Round Two For Big Three - Metro NewsRuth Lemmon: Big Three Back On Capitol Hill Executives with the three big automakers in the United States are back on Capitol Hill this week with revamped federal bailout plans. Congress sent those with General Motors, Chrysler and Ford back to the ...
Home Value Highwire - WTOP RadioWASHINGTON - If you want to buy in today's housing market, you may not be able to seal the deal or get a loan, unless you have cash and good credit. You need cash to close the deal. The days of zero-down are gone. That's the new reality of the ...
Supreme Court Hears Profanity Case, First in 30 Years - FOX NewsWASHINGTON — Had today's oral arguments on the use of foul language on broadcast television actually been on live TV, there is no doubt the program would have conformed to FCC guidelines. What's not clear is if the courtroom had actually heard the ...
Divided They Stand: A Candidate Comparison - Tampa Bay OnlineMcCAIN: Typically an opponent of government regulations, he has promised tougher ones for the financial industry in response to the current crisis. Though he has not been specific, McCain has said he would reduce the number of federal agencies ...
Plan to develop downtown Columbia gains backing - Howard County TimesIn the first official county reaction to General Growth Properties’ plan to redevelop downtown Columbia, the Department of Planning and Zoning Thursday recommended approving the plan — with revisions. In a lengthy technical report, the county’s ...
BAA 'hindering airport competition,' says regulator - Turkish Daily NewsBritain's antitrust regulator reported yesterday that BAA's ownership of seven airports, including three major airports serving London, may not serve the interests of passengers or airlines. The preliminary report suggested that the Competition ...
Downtown plan earns praise, gives pause - Howard County TimesCounty planners last week gave a qualified thumbs up to General Growth Properties Inc.'s plan to redevelop downtown Columbia, citing the company's "substantial effort" toward achieving goals set by the county and hailing it as "bold and ambitious ...
The mortgage rate puzzle - Delaware OnlineOnce upon a time, in that bygone era when housing prices always rose and equity never vanished, the gentle gyrations of mortgage rates seemed like a soothing dance to watch. Today that dance has turned into a more dangerous -- and unpredictable ...
The Death of Excessive Luxury - Motley FoolFor years, Americans have been mocked for their materialistic nature. A "gotta have it now" mentality has become the norm for consumers, and the middle class has literally disguised itself as part of the wealthy. At nearly every level of our society ...
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