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Cowboys hope to keep refining defense vs. Seahawks - FOX News
IRVING, Texas — When Tony Romo broke his pinkie, the Dallas Cowboys soon discovered a weakness that went far beyond bumbling backup quarterbacks. Believe it or not, Romo's absence exposed the Dallas defense. Throughout last season and the early ...

City stays with Main Street - Hawk Eye
When it comes to supporting Main Street Iowa, Burlington City Council members believe in the old adage, "If it's not broke, don't fix it." During regular session Monday, the council approved a resolution in support of the program with more than two ...

Sanders asks Paulson to block bonuses - Boston Globe
BURLINGTON, Vt.— Vermont's junior senator is asking Treasury Secretary Henry Paulson to block bonuses for executives at the nation's nine largest banks that were recently propped up with taxpayer funds. Sen. Bernie Sanders has written to Paulson ...

VEDA approves $56 million in financing - Burlington Free Press
The Vermont Economic Development Authority announced Thursday it has approved $55.5 million in financing to support development projects at local companies. Jo Bradley, the authority's CEO, said the financing efforts "will strengthen businesses ...

Councilman opposes logging - Hawk Eye
It's a move that will earn the city of Burlington a profit and help to reinvigorate the ecology of Otter Island, according to a forestry expert hired by the city. However, not all members of the Burlington City Council are on board with a plan to ...

Surviving the housing crisis - Burlington Union
There are more than seven million homeowners who are “underwater,” a term that describes the situation when your mortgage exceeds the value of your home. Nationwide, one out of five homeowners are underwater. In Nevada, where the prices have ...

Local mall operator says it's at risk for default - Boston Globe
The mall operator whose portfolio includes such local shopping centers as Natick Collection (above), Faneuil Hall Marketplace , and Providence Place warned that it faces solvency trouble. Shares of General Growth Properties Inc. fell yesterday after ...

General Growth Properties risks default - Burlington Free Press
CHICAGO — General Growth Properties Inc. 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 or extend nearly $1 billion in debt due next month. The real ...

Faneuil Hall, Natick Collection Owner In Trouble - WBZ-TV
BOSTON (WBZ) ― The company that owns several popular malls in New England says it may have to file for bankruptcy - just before the holidays. General Growth Properties Inc. of Chicago owns the Faneuil Hall Marketplace , the Natick Collection ...

Business Digest - Providence Journal
Boston-based Fidelity Investments, one of the biggest employers in Rhode Island with more than 2,400 workers in Smithfield, confirmed yesterday that it will eliminate about 1,700 jobs in the first three months of next year, adding to previously ...

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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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