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Congress' tinkering might help, but not a lot - St. Petersburg TimesWhen you hear the government wants to "rescue" the housing industry, it's time to hang garlic above the threshold. After all, the government's easy-money policy, combined with lax oversight of federally backed lenders, helped create the mess we're in ...
USAA expands its membership - AZCentral.comFor years, Ken Mitchell was frustrated because he couldn't sign up for insurance, banking and other financial services with USAA. He served 21 years in the Air Force, rising to master sergeant. Then he switched to civil-service jobs managing military ...
AROUND THE NATION - Houston ChronicleCINCINNATI — Gillette has teamed up with EA Sports in a push to expand its sports marketing into video gaming in a major way. Golfer Tiger Woods, a veteran of marketing for both businesses, helped begin the new partnership as part of an upcoming ...
Current president better than path to socialism - PantagraphIn response to ``A White House `rookie' is better than what we have'' (YourViews, Aug. 20): I would rather have the ``idiot'' in the White House than a two-faced, forked-tongue, commiecrat in there who will lead us to socialism. " miskaffon...you ...
NIU shooting victim from Cicero laid to rest - Chicago TribuneRSS feeds allow Web site content to be gathered via feed reader software. Click the subscribe link to obtain the feed URL for this page. The feed will update when new content appears on this page. A judge will review a satanic bible and an affidavit ...
Ex-government agent pleads guilty in scheme to seize money - Sioux City JournalPHOENIX (AP) -- A former federal agent who had investigated health care fraud pleaded guilty to seizing more than $1 million to buy property and pay off his mortgage, officials said Wednesday. Scott Allen Gompert pleaded guilty Tuesday in federal ...
beat Street expectations - CNBCWho's making the most money? The list varies from doctors to airplane pilots, but those looking for high pay may want to look in the medical field, which dominates the list. Caterpillar's fourth-quarter earnings rose more than 10 percent, helped by ...
Middle-class Americans, Plan on a More Meager Retirement - New AmericanFree PDF of NAU Issue You are aged between 40 and 64 and like a great many middle-class Americans, you have worked your entire life. You have provided for your family and put your kids through school. By being frugal, by forgoing luxury vacations ...
Mickey Kaus - Slate"Dr. Rice, who I think would be a really good candidate [for President], is not interested. Probably because she is single, her parents are no longer living, she's an only child. You need a very supportive family and supportive friends to have this ...
Business, economic events for the coming week - CNBCWASHINGTON — Treasury bill auction. NEW YORK — The Conference Board releases its Index of Leading Indicators, 10 a.m. NEW YORK — American Express Co. releases second-quarter financial results. CUPERTINO, Calif. — Apple Inc. releases third ...

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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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