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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
Huntingdon mortgage rates news:
Financial News
B&B slashes hundreds of mortgage jobs, throwing future into doubt - Times Online
Embattled mortgage bank Bradford & Bingley (B&B) announced plans to sack 370 people today as its future as an independent business was thrown into fresh doubt. Shares in the bank, which is grappling with a flood of buy-to-let mortgages turning sour ...

Mortgage Lenders Lower Their Risk - Philiy.com
Eighteen months ago, the very act of remembering to exhale might have qualified you for unlimited credit. The rules have changed, however, since the subprime crisis broke in August 2007, as foreclosures have skyrocketed and banks cracked under the ...

Crisis, what crisis? Alistair Darling’s just got his figures wrong - Times Online
When Alistair Darling said that Britain’s economic conditions were “arguably the worst they have been for 60 years”, the initial reaction from the Opposition and media was either to compliment the Chancellor for his “frankness” or to gloat ...

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