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News about Mortgages:
Obama, McCain campaign on economy - CNBCWASHINGTON - Newly minted presidential rivals Barack Obama and John McCain began the final stretch of their campaign with Obama seizing on figures showing unemployment surging to a five-year high as evidence that Republicans must be driven from the ...
What the papers said - Guardian Unlimited"In the end, we couldn't explain the huge difference between the John McCain of Thursday night and the one who ran such an angry and derisive campaign and convention — other than to conclude he has decided he can have it both ways. He can talk ...
McCain Accepts Nomination, Says He'll Fight to Restore Party ... - ABC NewsRepublican presidential nominee John McCain accepted his party's nomination Thursday night in a speech designed to recast the conservative party of President Bush and Karl Rove into his own maverick image. The Republican candidate accepts his party's ...
Solidifi Launches Fully Transparent National Appraiser Network - CNW GroupCHICAGO, Sept. 5 /CNW/ -- Solidifi Inc., a leading technology-based provider of collateral valuation and risk management services to the mortgage lending industry, announced that expansion to nationwide appraiser coverage is ahead of schedule ...
China central bank in talks to shore up capital-NYT - ReutersWASHINGTON, Sept 5 (Reuters) - China's central bank has begun discussions with the country's finance ministry to discuss ways to shore up the bank's capital as its investments in U.S. Treasury and mortgage debt decline in value, the New York Times ...
Rich in reserves, Chinese central bank is short of capital - International Herald TribuneIt has been on a buying binge in the United States over the last seven years, snapping up roughly $1 trillion worth of Treasury bonds and mortgage-backed debt issued by Fannie Mae and Freddie Mac. Those investments have been declining sharply in ...
Main Bank of China Is in Need of Capital - Gainesville SunIt has been on a buying binge in the United States over the last seven years, snapping up roughly $1 trillion worth of Treasury bonds and mortgage-backed debt issued by Fannie Mae and Freddie Mac.
McCain's reach - Los Angeles TimesIn accepting his party's nomination for president Thursday night, John McCain didn't need to rally the Republican ranks against his Democratic opponent. That mission was effectively and engagingly accomplished the night before by his running mate ...
Judge Gets Fax From Fasano, And A Trial Is Derailed - Tampa Bay OnlineNEW PORT RICHEY - Under normal circumstances, State Sen. Mike Fasano's Thursday morning fax to Circuit Judge Jack Day might have amounted to nothing more than another person's opinion about an ongoing case. Judges get them all the time. But this was ...
The Republicans running against themselves - International Herald TribuneIt is clear that the Republican Party has settled on a message: "Washington is not working." The phrase is included in virtually every speech and every statement at the Republican National Convention in St. Paul, Minnesota. We agree completely that ...

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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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