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Don't miss the refinance window - HometownAnnapolis.comCHICAGO - Lured by low mortgage rates, many homeowners have been rushing to refinance. Interest is gaining for good reason: Eligible borrowers can lock in rates that haven't been this attractive in decades. "With interest rates hovering around 5 ...
Commercial real estate in for tough 2009 - Columbia MissourianThe balance of power between landlords and tenants will shift dramatically in 2009. For landlords, this promises to be a year of intense competition, more bankrupt tenants, and tightfisted lenders. For renters, it looks like a time of abundant ...
Debt trouble at Lee triggers auditor's warning - Columbia MissourianNEW YORK — Lee Enterprises Inc., publisher of the St. Louis Post-Dispatch and other newspapers, said in a regulatory filing that it will have trouble paying its debt over the next two years because of severe reductions in revenue. The company also ...
Local farmers can get low-interest loans due to storm damage - Adirondack Daily EnterpriseTwelve upstate counties, including Essex and Clinton, have been designated as disaster areas by the federal Department of Agriculture, qualifying farmers in them for low-interest loans, according to a press release from U.S. Sen. Chuck Schumer. The ...
Orange County is eligible for USDA federal disaster aid - Mid-Hudson News NetworkWASHINGTON - The U.S. Department of Agriculture has designated Orange County as a Secretarial disaster area – one approved by the Secretary of Agriculture – due to multiple disasters that occurred in 2008. All counties will now be eligible for ...
Don't miss the refi window - Bellingham HeraldCHICAGO - Lured by low mortgage rates, many homeowners have been rushing to refinance. Interest is gaining for good reason: Eligible borrowers can lock in rates that haven't been this attractive in decades. "With interest rates hovering around 5 ...
Teck Cominco cuts 1,400 jobs - Prince Edward Island GuardianVANCOUVER — Teck Cominco Ltd. (TSX:TCK.B) says it will slash 1,400 jobs worldwide, more than a third from Western Canada, as the mining and metals company cuts costs amid a global slump in commodity prices. The Vancouver-based company says the cuts ...
Teck Cominco cuts 1,400 jobs, 13 per cent of workforce, to deal with ... - News1130.comVANCOUVER, B.C. - Teck Cominco Ltd. (TSX:TCK.B) says it will slash 1,400 jobs worldwide, more than a third from Western Canada, as the mining and metals company cuts costs amid a global slump in commodity prices. The Vancouver-based company says the ...
America Craves Stimulus, Obama Says, But Signals It'll Just Be The ... - Investors Business DailyPresident-elect Obama on Thursday made his fullest case yet for massive stimulus, saying only urgent, unprecedented action could avert a multi-year recession and double-digit unemployment. But while stimulus talk has taken center stage, Obama said it ...
Rescue me!: Foreclosures sweep through housing markets - TradingMarkets.comThere are some last-minute things you can do to save your home, said Nicole Caldwell, the vice president of professional services at Consumer Credit Counseling Service. "It's never too early to get help. Don't be afraid of talking to the mortgage ...
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