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Financial News
Who Holds the Old Maid? - FXStreet.com
When is the credit crisis going to end? How will we know? The credit crisis is getting ready to enter its second phase. This week we examine what that means, and what the economic environment will look like over the coming quarters. We also (sadly ...

Henry Paulson's Priorities - Common Dreams
By Bush administration standards, Henry Paulson, the Treasury secretary, is a good guy. He isn't conspicuously incompetent; and he isn't trying to mislead us into war, justify torture or protect corrupt contractors. But Mr. Paulson's actions reflect ...

More Bay Area News - San Francisco Gate
Slaying victims' family moves to sue S.F. over sanctuary law 08.22.08 Murder conviction reinstated in fatal S.F. dog mauling 08.22.08 Takeover robbers strike at Denny's in Daly City 08.22.08 Hayward victim slain after trying to steal man's jewelry 08 ...

John McCain on the mortgage crisis: "Any assistance must be temporary" - Salon
"It is not the duty of government to bail out and reward those who act irresponsibly, whether they are big banks or small borrowers." Editor's note: John McCain addressed the mortgage crisis at the Orange Country Hispanic Small Business Roundtable on ...

CONSUMING FIRE - New York Post
Consumer spending - the jet fuel that supplies 70 percent of the economic activity in this country - is in danger of being choked off, the result of mounting credit card debt and falling house prices. While the subprime mortgage meltdown and its ...

Lenders cold to the idea of forgiving mortgage debt - Naples Daily News
A mortgage broker has an idea for reducing foreclosures: Encourage lenders to forgive debt. So far, the notion hasn’t gained traction. Jeff Lazerson, founder and president of the online brokerage Mortgage Grader, believes that some foreclosures ...

You mess in our backyard ... - Arkansas Times
Most interesting news from Stephens Media , if you're into the newspaper business. CABOT - Stephens Media Group today announced the purchase of five Central Arkansas newspapers from Magie Enterprises Inc., a family-owned publishing company that has ...

Over your head? - Toronto Star
Needing a credit card for everyday expenses. Borrowing from one card to pay another. Delaying payment on some bills to defray others. Receiving calls from collection agencies. Falling deeper in the hole month after month. Arguing with a spouse or ...

How to combat mortgage stress - ninemsn
While the cash interest rate may be on the way down this year, commercial banks may not mirror the Reserve Bank's moves, so how can you make your current home loan more manageable? Warren O'Rourke, national manager corporate affairs at Mortgage ...

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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.

    View all Terms
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