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PRESS DIGEST-Australian Business News - Jan 9 - CNBCCompiled for Reuters by Media Monitors. Reuters has not verified these stories and does not vouch for their accuracy. THE AUSTRALIAN FINANCIAL REVIEW (www.afr.com) Telstra chief executive Sol Trujillo yesterday told a media and telecommunications ...
Business Tech - CNET NewsLAS VEGAS--It was fitting that in a city created as an elaborate fantasy world that a knight would get up on stage and tell us how to save the princess. Sony's Howard Stringer takes the stage at CES Thursday for a keynote address. (Credit: Corinne ...
Does the Bank Rate matter? - bbcThere is a good deal in Evan Davis's remarks this morning on Today that all the fuss about whether the Bank of England should cut interest rates may be the equivalent of bald men arguing over who should have the comb - and his apology to my old ...
How the Middle East crisis affects oil prices - Globe and MailAs the global financial crisis deepens, Report on Business writers examine and explain the turmoil in credit and stock markets. Here, we answer your questions daily, with the most recent at the top. Is the recent jump in oil prices directly related ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
View all Terms