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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
Atlantic mortgage rates news:
Financial News
Interest rates held for fifth month - Guardian Unlimited
The Bank of England has kept interest rates on hold for the fifth month in a row despite the looming threat of recession. Stagnating economic growth, record house price falls and the struggling manufacturing, construction and services sectors were ...

US Treasury close to deal to prop up mortgage giants Fannie and ... - The Independent
The US Treasury is close to a deal to prop up the mortgage finance giants Fannie Mae and Freddie Mac, whose crumbling finances have put the US housing market in jeopardy and threatened to turn an economic slowdown into a deep recession. A string of ...

Munich Re May See Higher Rates, Profits in Wake of 2008 Storms - Bloomberg
Sept. 5 (Bloomberg) -- The worst hurricane season in three years improves the odds that Munich Re and Swiss Reinsurance Co. , the biggest reinsurers, can raise rates and profit next year. Hurricane Katrina, which devastated New Orleans and socked ...

Rangel paid no mortgage interest on beach house - Salon
Sep 5th, 2008 | WASHINGTON -- Rep. Charles Rangel paid no mortgage interest on a beach resort property for about 15 years, a lawyer for the powerful House committee chairman said Friday. The New York congressman's lawyer, Lanny Davis, told The ...

Wall Street open: Share rout continues as jobless figures disappoint - Guardian Unlimited
Stock markets fell sharply in London and around the world today after further evidence of weakness in the US jobs market revived worries about the health of the global economy. Fresh jobs data from across the Atlantic raised renewed fears over the ...

U.S. Stocks Advance as Rally in Banks Overshadows Drop in Jobs - Bloomberg
Sept. 5 (Bloomberg) -- U.S. stocks gained, paring the worst weekly loss for the Standard & Poor's 500 Index since May, on speculation Lehman Brothers Holdings Inc. will raise capital and investor Barton Biggs' prediction the market is near a bottom ...

Banks turn to Web to help young adults handle debt - Atlantic City Press
It's a moniker that has saddled an entire culture of young adults: Generation Debt. And while the financial hole that many college- and post-college-aged Americans find themselves in varies, the trend is it's getting deeper - made worse by rising ...

A housing flip-flop - San Diego Union-Tribune
San Diego, which three years ago had one of the most overvalued housing markets in the country, is now the most undervalued in California, the economic and financial analysis company Global Insight reported yesterday. The market has improved because ...

Is Inflation the Right Battle? (by J. Bradford DeLong) - Turkish Weekly
The Federal Reserve and other central banks are coming under pressure from two directions these days: from the left, they are pressured to do something to expand demand and hold down global unemployment; from the right, they are pressured to contract ...

Hopes of rate cut dashed as car sales fall to 40-year low - yorkshirepost
The Bank of England kept interest rates on hold for the fifth month in a row yesterday as it attempts to control inflation amid threats of a looming recession. Stagnating economic growth, record house price falls and the motor industry recording its ...

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