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News about Mortgages:
Residential Finance Corp. Mortgage Loan Officer Wins Spirit of ... - dBusinessNews.comResidential Finance Corporation (RFC), a nationwide mortgage lender, today announced that LendingTree has bestowed its Spirit of LendingTree Award to RFC Loan Officer Erika Butler. The company’s highest award for loan officers recognizes the one ...
Now may be time to buy home - KTAR.comDespite the bad economy, pending home sales in Arizona are up, and Arizona State Real Estate Professor Jay Butler advises prospective homebuyers to act now before more mortgage banks and lending institutions close. Pick out a house and close the deal ...
In New York, credit crunch takes toll on all kinds of borrowers - New York Daily NewsCall it a squeeze, a crunch or a knot - the credit crisis has hit New York big-time. All kinds of borrowers, from families looking for their first homes to major corporations, are finding it hard to scare up cash. "The credit crunch is not just ...
Treasurer: County investments are safe - Middletown JournalHAMILTON — In light of turmoil on Wall Street and concern over whether the recently passed federal bailout will work, Butler County Treasurer Nancy Nix issued an assurance today, Oct. 7, that the county's investments of public funds are safe ...
Global markets stampede lower; world's finance chiefs search for a way ... - Chicago TribuneStock markets plummeted still lower on Wall Street and around the world Friday despite all efforts to slow the selling stampede. The globe's industrial powers urgently debated even more forceful actions to prevent a worldwide economic catastrophe. In ...
How we are coping with the crunch - Times OnlineStress: The crisis is being blamed for an upswing in stressed-out people grinding their teeth together. “It was two months ago we started noticing it,” says Keith Cohen, a dentist practising in Harley Street and the City. “Stress is one of the ...
Local home sales rise for first time this year - Milwaukee Journal SentinelHome prices fell about 4.7% in the metro Milwaukee area through the first nine months of the year, but sales of existing homes rose in September — the first time in 2008 that sales were up from the same month a year earlier, a report released ...
The gloom spreads north - Globe and MailR L from Canada writes: But, but, but.... Jim Flaherty & Steve Harper say the gloom will NOT spread north... if they say so, it must be true? Bush & Harper both said the 'fundamentals are strong'. Flaherty/Harper's plan is the 'do nothing', laissez ...
Chattanooga: Credit grip tightens at home - Chattanooga Times Free PressThe television ads pitching no-money-down sales on anything from couches to cars to condominiums now may be as ancient as $2-a-gallon gas. The era of easy credit appears to be over even after Congress approved a $700 billion rescue plan last week to ...
Wall Street tumbles amid global sell-off - Butler EagleNEW YORK — Financial markets took a bleak view of the future today, seeing contagion in a credit crisis that threatens to cascade through economies globally despite government efforts to provide relief. The Dow Jones industrials skidded around 600 ...

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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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