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Fla. Commission Approves Car Emissions Limits - WFTV
TALLAHASSEE, Fla. -- A state commission is giving its approval to toughen emissions standards for new cars sold in Florida. The Environmental Regulation Commission voted 6-1 on Tuesday to adopt California's emissions rules as a way of lowering ...

Fed Aid Sets Off a Rush to Refinance - Wall Street Journal
The Federal Reserve's attempt to stabilize the housing market set off a chain reaction across the U.S. on Tuesday, dropping interest rates and quickly spurring a burst of refinancing activity by borrowers eager to lower their mortgage costs. Some ...

Geologist: Mining lawsuits not unusual - Peoria Journal Star
The litigation spawned by efforts to develop a large gravel pit outside Henry has not been unusual, according to an industry expert who testified in a Marshall County case here Monday and Tuesday. Court action is often the only way to overcome local ...

Area's lawmakers take oath of office - Woodland Daily Democrat
New senators, including 5th District Sen. Lois Wolk, center right, take the oath of office from Appeals Court Justice Arthur Scotland, during a swearing in ceremony at the Capitol in Sacramento on Monday. (Steve Yeater/The Associated Press ...

House Race Update: Ohio Sup. Ct. to Rule on Franklin County Votes - ABC News Blogs
ABC News' Teddy Davis and Arnab Datta Report: A federal appeals court ruled Tuesday that the Ohio Supreme Court -- and not a federal district court -- is the proper forum to decide how approximately 1,000 challenged provisional votes should be ...

Cause and Effect - American Enterprise Institute
Although the media are full of talk that we face a "crisis of capitalism," the underlying cause of the financial meltdown is something much more mundane and practical--the housing, tax, and bank regulatory policies of the U.S. government. The ...

Charity is necessary for happiness, speakers say at Rome conference - Catholic News
ROME (CNS) -- Even at a time of global financial crisis, human beings need to give charity in order to be happy, said several speakers at a Rome conference on philanthropy and human rights. Expecting a government to provide all social services and ...

Earning the economy we deserve - The Age
Short-term self-interest must be replaced by a long-term ethical view if we want to transform markets for the better. W HEN things go wrong, one of the first things we tend to do is to look for something or someone to blame. This is not necessarily a ...

These blue-blooded chumps are laughing at us - OpEdNews.com
Paulson is only the latest of the foxes guarding the henhouse. Harvey Pitt was Bush's initial SEC chairman. What did he do that was noteworthy? He pushed for the exact same accounting deregulations that Arthur Andersen and Enron used with their ...

Subprime Suspects - CFO.com
In past financial blowups, auditors have paid a heavy price. After the savings-and-loan crisis of the late 1980s, for example, the Federal Deposit Insurance Corp. collected more than $1 billion in settlements from four of the then–Big Six for their ...

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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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