Reading Center Mortgage Rates and Information Online from competing Lenders

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Treasurys rally on economic weakness - CNN Money
NEW YORK (CNNMoney.com) -- Yields on long-term U.S. Treasury debt fell further Monday - after sinking to historic lows last week - as the grim economic outlook continued to drive demand for ultra-safe government debt investments. The 30-year note ...

Trying to end the mortgage rate lag - CNN Money
NEW YORK (CNNMoney.com) -- Bad news is good news for Treasury investors, and recently, there has been a whole lot of bad news. Mortgage rates, however, have not fallen with Treasury yields, but an $800 billion government bailout could change all of ...

Meltdown far from over, new mortgage crisis looms - Reading Eagle
WASHINGTON - The full scope of the housing meltdown isn't clear and already there are ominous signs of a new crisis one that could turn out the lights on malls, hotels and storefronts nationwide. Even as the holiday shopping season begins in full ...

You can qualify for mortgage, it's just tougher - San Francisco Gate
Sunday, November 30, 2008 While it is certainly harder to get a loan today than it was two years ago, lenders say it's far from impossible for would-be borrowers with the right credentials. In fact many in the industry praise the return to normal ...

Meltdown not over; new U.S. mortgage crisis looms - Globe Gazette
WASHINGTON (AP) — The full scope of the U.S. housing meltdown isn’t clear and already there are ominous signs of a new crisis — one that could turn out the lights on malls, hotels and storefronts across the country. Even as the holiday shopping ...

Register for FREE - Wall Street Journal
Stocks got off to a positive start on Tuesday after the Federal Reserve unveiled a new facility aimed at boosting consumer credit and the market for mortgage-backed securities. Just after the opening bell, the Dow Jones Industrial Average was up 102 ...

Berks County Week in Review - Reading Eagle
A recap of the week’s top news stories including State Representative Doug Reichley criticizes Gov. Rendell for bailing out Boscov’s, Reading City Council approves a property tax hike, UGI announces rate cuts, and security measures are being ...

Presidential partners: Obama and Bush team up on financial crisis - Miami Herald
America has never seen anything quite like this: the president and president-elect acting like co-presidents, consulting and cooperating on the day's biggest crises. At the center of it all has been the flailing economy, and both the outgoing Bush ...

Council on Aging Events - Abington Mariner
The Milano Senior Center is located at 201 West Foster St., Melrose. Hours: Monday-Friday, 8:30 a.m. to 4 p.m. For information, call 781-662-6886. The Council on Aging office is at 235 West Foster St., Melrose. COA hours: Monday through Friday, 8:30 ...

U.S. consumer confidence rises on lower gas prices - Marketwatch
WASHINGTON (MarketWatch) -- While falling gas prices perked up consumers in November, concern has grown over the current jobs market, according to the monthly Conference Board index, which reported Tuesday that confidence rose from a record low in ...

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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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