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Mortgage brokers seeing more refinancing - WRALRaleigh, N.C. — New numbers out Wednesday show national sales of new homes are at their lowest point in 18 years. But when it comes to pre-owned, the days of bargain hunting here may be over. The Federal Home Finance Agency reports prices are still ...
Flyers beat Hurricanes for 6th straight win - FOX NewsRALEIGH, N.C. — An exhausted Matt Carle headed for Philadelphia's bench, but none of his teammates noticed. So he stayed on the ice and wound up scoring the goal that gave his team to its longest winning streak in years. Philadelphia won its sixth ...
Treasury Yields Drop to Record Lows as Bernanke Cites Buybacks - BloombergDec. 1 (Bloomberg) -- Treasuries rose, pushing yields to record lows, as Federal Reserve Chairman Ben S. Bernanke said the central bank may purchase Treasuries and target long-term interest rates to combat the deepening recession. Bonds rallied for a ...
House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News BlogsABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...
Where The Pain Will Strike Next - ForbesIt's been just 15 months since the implosion of two Bear Stearns hedge funds set off the first bit of sliding snow in this avalanche of a financial crisis. And, oh, how painful it's been. Retirement plans sport gaping holes; credit flows like ...
U.S. banks mine data and pitch to troubled borrowers - International Herald TribuneBrenda Jerez hardly seems like the kind of person lenders would fight over. Three years ago, the New Jersey resident became ill with cancer and ran up $50,000 on her credit cards after she was forced to leave her accounting job. She filed for ...
Could your financial life be under a microscope? - Houston ChronicleBrenda Jerez hardly seems like the kind of person lenders would fight over. Three years ago, she became ill with cancer, and ran up $50,000 on her credit cards after she was forced to leave her accounting job. She filed for bankruptcy protection last ...
Busted Drug Dealers' Jewelry Up for Auction, Hundreds of Thousands of ... - FOX NewsRALEIGH, N.C. — If you're in the market for a diamond-studded gold gorilla pendant, the North Carolina Department of Revenue may have just what you're looking for — thanks to busted drug dealers. The department hopes to auction hundreds of ...
Flight Diverted After Crew Restrains Unruly Passenger With Tape - FOX NewsRALEIGH, North Carolina — An airline crew used duct tape to keep a passenger in her seat because they say she became unruly, fighting flight attendants and grabbing other passengers, forcing the flight to land in North Carolina. Maria Esther ...
Shares of mall owner plunge after warning - Raleigh News & ObserverStory Tools CHICAGO - General Growth Properties shares plummeted Tuesday after the mall owner warned it faces solvency trouble and may be forced to file for bankruptcy if it can't refinance nearly $1 billion in debt. The real estate investment trust ...
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