Mount Washington Mortgage Rates and Information Online from competing Lenders

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Standard & Poor's cuts rating on Saks - MSN MoneyCentral
NEW YORK (AP) - Standard & Poor's Ratings Services cut its rating for Saks Inc. on Thursday, saying the luxury retailer will likely have a weak fourth quarter as shoppers curtail spending because of the recession. The agency cut its rating on the New ...

Moore vs. Cooper? Dispute hints at politics ahead - Rocky Mount Telegram
RALEIGH, N.C. — An ongoing quarrel between Attorney General Roy Cooper and State Treasurer Richard Moore may be more than just two agencies vying for power: It could foreshadow a coming Democratic primary to challenge Republican Sen. Richard Burr ...

Signs mount of deepening recession - Huffingtonpost.com
WASHINGTON — The latest evidence of a deepening recession that's already the longest in a quarter-century came Wednesday in a pair of reports that found little relief in sight. The U.S. service sector shrank far more than expected in November, as ...

People draw unemployment benefits at 26-year high - WTOP Radio
WASHINGTON (AP) - More evidence of consumers' weary state and the nation's deteriorating job market came Thursday with reports that people continuing to draw unemployment benefits climbed to a 26-year high, while retail sales and orders to U.S ...

British Homeowners to Get Help - Washington Post
LONDON, Dec. 3 -- Prime Minister Gordon Brown threw a lifeline to people in jeopardy of defaulting on their mortgages, saying Wednesday that homeowners who lose their jobs or suffer a sharp loss in income will be allowed to defer mortgage interest ...

U.K. to Help Homeowners at Risk of Losing Homes - Washington Post
LONDON, Dec. 3 -- Prime Minister Gordon Brown threw a lifeline to people in jeopardy of defaulting on their mortgages, saying Wednesday that homeowners who lose their jobs or suffer a sharp loss in income would be allowed to defer mortgage interest ...

Download this story to your iPod - The Washington Times
Click the "Get the story in iPod format" button above. You'll be prompted to save a file. Save it to your computer, and unzip it. It should create a folder called "The Washington Times". Connect your iPod to your computer and mount it as an external ...

Mortgage rates dip for 4th straight week - San Gabriel Valley Tribune
WASHINGTON - Rates on 30-year mortgages sank for a fourth straight week, falling below 6 percent for the first time since early October, and are heading lower due to the government's massive new effort to aid the U.S. housing market. Further drops ...

As economic ills mount, US applys more medicine - Daily Journal
WASHINGTON (AP) — With the economy showing further signs that it is headed into a steep swoon, Treasury Secretary Henry Paulson is pulling more tricks out of his bag to try bolster the country’s battered financial sector. The administration and ...

Service industries tumble to record low; Fed reports nationwide ... - Minneapolis Star Tribune
WASHINGTON - The latest evidence of a deepening recession that's already the longest in a quarter-century came Wednesday in a pair of reports that found little relief in sight. The U.S. service sector shrank far more than expected in November, as ...

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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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