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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
Oklahoma mortgage rates news:
Financial News
Tulsa houses priced under value: A report finds Tulsa is the 11th most ... - TradingMarkets.com
The second-quarter median sales price of $104,400, the point at which half of all homes sold for more and half sold for less, was 23.8 percent below where local economic conditions would suggest it should be, according to a survey by Global Insight ...

Site Presented By - Salon
Two passages stand out in the statement released late Friday afternoon by Treasury Secretary Henry Paulson, after the conclusion of a meeting between “G-7 Finance Ministers and Central Bank Governors.” We are developing strategies to use the ...

Nova loan officer answers the - Daily Territorial
While there has been much discussion about the current home mortgage and credit crisis, only limited comments have come from the mortgage industry itself. Inside Tucson Business asked one of the area’s leading mortgage companies—Nova Home Loans ...

Now’s the smart time to buy a home - Edmond Sun
Even my optimism has been challenged during the past two weeks. Between the hate crimes being alleged in almost every political advertisement and the cries for financial bailout coming out of Washington, I’m on information overload. I view my ...

Loan-modification program could help Countrywide customers avoid ... - Fort Worth Star-Telegram
How well are you keeping up with health and diet news? Defensive improvement gives Texas a chance to beat Oklahoma Alcohol-sales propositions are on a number of local ballots Prospective teachers may have difficulty finding jobs next year After ...

Bank of America settles lawsuit over bad mortgages - Ledger-Enquirer
SPRINGFIELD, Ill. -- Facing a lawsuit over deceptive mortgage practices, Bank of America Corp. has agreed to modify tens of thousands of loans to keep people in 11 states from losing their homes, the Illinois attorney general's office said Sunday ...

Local control for troubled mortgages - San Bernardino County Sun
Now that the multi-billion dollar rescue plan has made it through Congress, the federal government must engage local leaders when determining the future of troubled mortgage assets that are underwriting this unprecedented taxpayer investment. The ...

Europeans scramble to save failing banks - Ledger-Enquirer
– All United States – Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota ...

Undernews: Rezko Alert - Slate
The LAT is more like Daily Kos than it wants to admit (and vice versa): The Daily Kos has banned longtime blogger Lee Stranahan for writing calm, clear-headed posts assessing the evidence in the John Edwards scandal--posts saying things like: Edwards ...

Conservative Evangelical Vote Still the Republican Party's to Lose - ABC News
Dennis Barbee cares about low taxes. He also wants a strong economy and solid national security. Above all else, the registered nurse from Spring Hill, Tenn., is basing his vote this November on moral issues. "Making sure human beings have a right to ...

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