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.

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Sierra mortgage quotes news:

Environment is top concern for Scotts Valley council candidate Caryn ... - Santa Cruz Sentinel
SCOTTS VALLEY -- Caryn Machado points to her campaign flier printed on recycled paper and declares, "I recycle religiously." She quotes movies like "The 11th Hour" and "An Inconvenient Truth" when describing an urgent need to address the environment ...

No bank bailouts: Flaherty - Globe and Mail
Canadian financial services industry is solid and solvent, says the finance minister, while admitting that credit is tight ... Read the full article Conservatives Lie from Canada writes: No one believes Mr. Flaherty, Mr. Harper and the Conservatives ...

Kat Wilson from Canada writes: Canada 1, you may be interested in the ... - Globe and Mail
In his first budget as Harper's finance minister, Jim Flaherty invited 'new players' - that is, U.S financial corporations - into Canada's mortgage insurance market and doubled the amount of government money available to back up private insurers from ...

Palin may have left Alaska, but she's not giving up her moose roots - Los Angeles Times Blogs
John McCain and Sarah Palin began their post-convention tour of battleground states today in the small Wisconsin town of Cedarburg. But although Palin's biggest task in the coming months will be trying win over the lower 48, she's not about to ...

February 2007 - Times Union Blogs
The Capitol. The seat of state government. Where influential politicians craft laws and crafty lobbyists peddle influence. Where hopeful citizens try to get their voices heard. Get a look behind the scenes at New York politics and statewide campaigns ...

Polls predict Obama will turn NH blue - Nashua Telegraph
That's what two independent polls concluded at the end of the week, with Saint Anselm College's Institute of Politics and Rasmussen surveys giving Sen. Barack Obama a commanding double-digit lead. St. A's has Obama beating Republican Sen. John McCain ...

Hurricane Ike: Get Ready For Soaring Gasoline Prices - Wall Street Journal
Hurricane Ike is bearing down on the Texas coast like an eerie reminder of the deadly 1900 storm that mauled Galveston, and represents a perfect-storm scenario of possible damage to vulnerable refining, chemical, and shipping industries. As Ike’s ...

On Fannie Mae and Freddie Mac, Bob Barr doesn't hold back - Los Angeles Times Blogs
Perhaps an issue has fallen into the lap of Bob Barr that will give his little-noticed presidential campaign some traction -- especially among libertarian-minded Ron Paul backers who have not exactly flocked to Barr's banner. The issue would be the ...

Looking ahead - USA Today Blogs
• President Bush meets with G-7 finance ministers and heads of international finance institutions. They'll make a statement afterward. • Watch for developments out of the meeting of the International Monetary Fund and World Bank. • Russia ...