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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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Bernalillo mortgage quotes news:
Financial News
Stephanopoulos: Why No Ayers Attack? - ABC News Blogs
ABC News' George Stephanopoulos reports: One thing we didn't hear in last night's debate was John McCain launch the kind of personal attacks against Barack Obama that the McCain campaign has been telegraphing would come. On the campaign trail in ...

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The McCain convention bump seems to be subsiding, and the tracking polls suggest the national race is back almost dead even . Part of the recent movement may well be attributable to the financial crisis gripping Wall Street, and the fact that for not ...

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