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Fitch Rates Evanston, Illinois $18.7MM Rfdg GOs 'AAA' - Businesswire.com
CHICAGO--( BUSINESS WIRE )--Fitch has assigned an 'AAA' rating to the City of Evanston, Illinois' (the city) approximately $18,655,000 general obligation (GO) bonds, series 2008D. The bonds are scheduled to price via negotiated sale on or about the ...

The Economy - Washington Post
Washington Post columnist Steven Pearlstein was online Wednesday, Oct. 15 at 11:00 a.m. ET to discuss the stock market's return to a state of relative calm and where we go from here. About Pearlstein: Steven Pearlstein writes about business and the ...

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.

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