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Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. The wrong folks were in the witness chairs in last week's congressional hearings on auto doom. A fantastic moment was Massachusetts Rep ...
A Car Wreck Made in Washington - Wall Street JournalThe wrong folks were in the witness chairs in last week's congressional hearings on auto doom. A fantastic moment was Massachusetts Rep. Stephen Lynch assailing Rick Wagoner about whether GM was asking China for a bailout too. The implication seemed ...
ArcelorMittal, USW, reach agreement - NWITimes.comBURNS HARBOR | The United Steelworkers and ArcelorMittal reached an agreement Wednesday eliminating the forced layoffs of 2,444 hourly workers at its Burns Harbor plant. Paul Gipson, president of United Steelworkers Local 6787, said the company and ...
A week of stupid politics but good economics - Times OnlineShock. Horror. VAT could go up after the next election. Or it could go down - or stay the same. The same can be said of income tax and council tax and road tax. It can also be said about public spending, government deficits, the FTSE index, the oil ...
Relief for renters - News.com.auRENTERS finally look set to gain some breathing space because of lower interest rates and the possibility of a global recession. The latest quarterly rental report by Australian Property Monitors shows falls or no change in rents for a number of ...
Obama Hears a Giant Sucking Sound - Wall Street JournalHis friends advise Barack Obama to launch a "New" New Deal. Maybe that's because the old New Deal is sinking fast. Mr. Obama's one deeply false note during the campaign was his harping on "deregulation" as if that were the source of current troubles ...
McCain says Obama will 'say anything' to win - Washington PostRepublican presidential candidate Sen. John McCain, R-Ariz., gives the thumbs up sign after speaking at a rally, Wednesday, Oct. 22, 2008, at Lunken Airport in Cincinnati. (AP Photo/Al Behrman) (Al Behrman - AP) Republican presidential candidate Sen ...
Alistair Darling's innovations may stave off depression - Times OnlineThere is more than one way to skin a cat. There might have been simpler and cheaper ways of preventing the collapse of Britain's financial system than that chosen yesterday by Gordon Brown and Alistair Darling. I have argued, for example, that the ...
RBA cuts rates - now pass it on - News.com.auTHE Reserve Bank of Australia today cut official interest rates by a bigger than expected 75 basis points to 5.25 per cent. Most analysts and economists had forecast a 50 basis point reduction. Following the cut, Federal Treasurer Wayne Swan said the ...
Today's Mortgage Terms starting with P
Payment Cap: A limit on the size of the monthly payment of an adjustable-rate mortgage or other variable rate loan.
Point: A point is equivalent to 1 percent of a mortgage loan. Lenders might charge "origination points" to cover expenses of processing a loan. Some borrowers might pay "discount points" to reduce the loan's interest rate.
Pre-Approval: The process of calculating how much money a potential homebuyer could borrow.
Prepayment Penalty: A lender's charge to the borrower for paying down the loan before the end of its term.
Pre-Qualification: A non-binding process of calculating how much money a potential homebuyer can borrow before applying for a loan. Information submitted during pre-qualification is subject to verification at application.
Principal: It is the amount of money borrowed or owed, excluding interest.
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