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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
Burlington home equity loans news:
Financial News
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 ...

NEW JERSEY BUSINESS NEWS - Newark Star-Ledger
Check if outside U.S. When Peggy Zullo's husband, Dave, died in 2004, she made the tough choice to step into his job as chief executive of Audio Energy, the South Plainfield hearing-aid battery supplier the couple built from scratch in 1981. "It was ...

Original Watch URL: - Milwaukee Journal Sentinel
After accounting for impairment charges for its discontinued British subsidiary, the papermaker Appleton said this afternoon that it had a second-quarter loss of $42.7 million compared with a loss of $1.7 million in the second quarter of 2007. Sales ...

People on the Move - Dayton Business Journal
Broadstreet , a Watertown-based creative marketing and communications agency, added Heather Towsley as director of business development, focusing on travel, technology, pharmaceutical and biotechnology clients. Towsley, who has over 15 years of sales ...

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