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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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Morrow refinance mortgage news:
Financial News
Independent HBOS fight 'gaining pace' - Scotsman
THE fight to save HBOS as an independent bank is still on, one of the two "banking knights" hoping to ride to its rescue told The Scotsman last night. Sir Peter Burt, HBOS's former deputy chairman, said the battle to stop the proposed takeover by ...

Commercial real estate feels pinch - Minneapolis Star Tribune
Yes, the commercial mortgage sector is feeling some of the fallout from the tighter credit markets. And, as you noted, the delinquencies … read more on commercial mortgages, while up, are still low by historical standards. So what do I mean by too ...

Commercial real estate feels pinch: Concerns mount for income ... - TradingMarkets.com
The commercial real estate market in the metropolitan area and across the county has been feeling the effects of the subprime housing lending meltdown for more than year, with tight credit slowing what had been a brisk market in income-producing ...

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