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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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Benton mortgage quotes news:
Financial News
Stock & fund quotes - ninemsn
Federal prosecutors and regulators have accused two former Wall Street brokers of defrauding customers by making more than $US1 billion ($A1.2 billion) in unauthorised purchases of securities tied to subprime mortgages. In an indictment unsealed in ...

Letters to the Editor (Sept. 11) - Corvallis Gazette-Times
I have been reading a new book from the Corvallis-Benton County Public Library, “The Inspired Wisdom of Abraham Lincoln” by Philip Ostergard. A portion of the book concerning Lincoln’s Gettysburg Address was especially interesting to me ...

Obama Uses Health Care As New Front in McCain Attack - ABC News Blogs
ABC News' John Berman, Sunlen Miller, Ursula Fahy and David Chalian report: After days of focusing on the financial crisis facing the country, Barack Obama gave a fresh speech for the first time in a week, trying to open up a new front against John ...

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