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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
Jackson mortgage rates news:
Financial News
30-year mortgage rates dip below 6 percent - Jackson Sun
WASHINGTON — Rates on 30-year mortgages fell below 6 percent this week, recording the first decline in three weeks. Freddie Mac, the mortgage company, reported Thursday that 30-year, fixed-rate mortgages averaged 5.94 percent this week, down from 6 ...

US has dwindling number of tools in econ crisis - Jackson Sun
The commitment of $700 billion didn’t impress markets here and around the world. Neither did fresh interest rate cuts. Stocks plunged yet again on Thursday. The government still has some unused options — like buying up foreclosed properties and ...

Home is where the hurt is - Milwaukee Journal Sentinel
Susan Kerwin’s three-bedroom house in Jackson has been in move-in condition since she put it up for sale in May. The trouble is finding someone who wants to move in — or even make an offer. She’s heard lots of reasons why people who have looked ...

Officials consider ways to handle town's debt - Tri-Town News
JACKSON — Municipal officials are examining Jackson's debt in an effort to determine what the next step will be. "Over the years the township has been dealing with its debt on a short-term basis. What we are examining right now is the position we ...

Column: Debt consolidation can lead to brighter future - Star-Press
It adds up quickly, doesn't it? A car repair, new refrigerator, a couple of wedding gifts, flowers for a friend's birthday, a celebration dinner for you and your spouse, a little paint and carpeting to spruce up a room, a weekend getaway, tickets to ...

Federal bailout lacks control of home loans to aid owners - Boston Globe
The federal bailout may do little to help struggling homeowners because the US government will not have direct control of many of the home loans that need reworking to avoid foreclosure, economists and housing analysts say. Under the plan, the ...

U.S. 10-Year Note Drops Most in a Week Since June on Supply - Bloomberg
Oct. 11 (Bloomberg) -- Treasury 10-year notes posted the biggest weekly drop in four months as traders anticipated the U.S. government will sell more debt to fund a rescue of the financial system. The decline yesterday pushed yields on 10-year ...

Obama rejects McCain's plan to buy mortgages - Salon
Oct 8th, 2008 | INDIANAPOLIS -- Democrat Barack Obama 's campaign criticized John McCain's mortgage bailout plan Wednesday, saying it would cause the government to lose money by paying too much for bad loans. McCain's proposal to spend $300 billion ...

They Warned Us About the Mortgage Crisis - Yahoo News
More than five years ago, in April 2003, the attorneys general of two small states traveled to Washington with a stern warning for the nation's top bank regulator . Sitting in the spacious Office of the Comptroller of the Currency , with its ...

Italy Supports U.K.-Style Lifeline for Troubled Banks (Update2) - Bloomberg
Italy Supports U.K.-Style Lifeline for Troubled Banks (Update2) By Flavia Krause-Jackson and Alessandra Migliaccio Oct. 8 (Bloomberg) -- The Italian government said today it backed a U.K.-style rescue fund for troubled banks that need loans ...

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sources: informars.com, erate.com, Freddie Mac
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