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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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Clay mortgage rates news:
Financial News
Beautiful Miss Idaho in LCHS Parade - Spokane Spokesman-Review
Issue: Most Americans see 'judicial activism' crisis: Legal experts shocked by results of survey by American Bar Association publication /WorldNetDaily. DFO: Count me among those who believe the judiciary, particularly the federal judiciary and 9 U.S ...

'Universal, socialized health care': A 'crazy' idea - Sioux City Journal
ALTON, Iowa -- Why do the Brits and Canadians come to the United States for their health care needs? Because they have socialized, i.e. government-run health care. More than likely, they don't want to take the chance of dying while they wait six ...

Corrections and clarifications - Milwaukee Journal Sentinel
An article Tuesday about Hispanic voters in the Midwest incorrectly identified Phil Walzak. He is a spokesman for Democrat Barack Obama's presidential campaign, not for Republican John McCain's campaign. A quote Tuesday in a Public Investigator ...

Wild Card/Vacation Day 11 of 12 - Spokane Spokesman-Review
Only two more shopping days until I return to the final days of the City Council campaigns. Then, we'll have fun taking apart the campaigns. Any dirt yet? Any mudslinging. You know, the good stuff. Or is everyone behaving? My wife is now looking over ...

Rocky Mountain high - Arkansas Times
Max here in beautiful Durango, Colo., just catching up on news from home. I swore this was going to be a few real days off. But then I read that the NLR Chamber of Commerce was recommending that the city take out a mortgage to cushion the coming ...

The Notion - Nation
Phil Gramm, the senator-banker who until recently advised John McCain's campaign, did get it right about a "nation of whiners," but he misidentified the faint-hearted. It's not the people or even the politicians. It is Wall Street--the financial ...

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