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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.

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Gwinnett mortgage loans news:
Financial News
Get Schooled - Atlanta Journal Constitution
The entry titled "Helping transient students," and any of the comments about it. The first week of January is usually slow for school news. But 2009 is proving to be an exception. So far we have Fayette schools asking teachers to donate their raises ...

The Note - ABC News Blogs
ABC News' Karen Travers Reports: Entertainer Al Franken may be getting closer to one of the most hotly contested Senate seats in the U.S. The Democrat gained a 50 vote lead over Republican Sen. Norm Coleman in Minnesota's Senate race after the state ...

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