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Investor fear remains deep despite one-day rally - International Herald TribuneNEW YORK : Since the Nov. 4 election, investors have been abandoning stocks in a kind of slow-motion crash that experts say underlines just how anxious they are about what is likely to be a long and deep recession. Even after a late-day rally on ...
FDIC chief presses for gov't action on mortgages - Fort Worth Star-TelegramMan's body found on Interstate 30 in east Fort Worth Jerry Stackhouse ready to move on from Dallas Mavericks Fort Worth police: Could 2 robberies by related? Plano man pleads guilty to misspending his elderly mother’s money League ruling on Adam ...
Spending $7 million - Fort Wayne Journal GazetteThe federal government’s gift of $7 million to improve Fort Wayne neighborhoods is welcome, but the new Neighborhood Stabilization Program also carries risks. City officials need to make sure the city doesn’t end up holding homes it will never be ...
It’s Hammer Time - Fort Worth Star-TelegramFort Worth Episcopal Diocese votes to dissociate from national church Racial incidents rise since voting L.D. Bell comes in second at national band competition It’s Hammer Time American, pilots spar over progress of contract talks The great ...
Housing 'boom' gone after price drop - Herald TribuneA curious thing happened in early September. After a long time in the darkness, the Southwest Florida real estate market finally began to show signs of life. But then came the collapse of Lehman Brothers, the salvaging of American International Group ...
How will economy affect Iowa's financial sector? - Des Moines RegisterA recession in Iowa means manufacturing jobs most likely will get hammered. It happened in the early 1980s when a national recession deepened into a farm crisis in Iowa and elsewhere in the Midwest. The state lost 43,100 factory jobs - 62 percent of ...
Housing slump deepens as prices drop most in 26 years - Globe and MailSilver Standard (America is a welfare queen superpower) from Canada writes: Well guys in a few years I will finally be able to afford a house. I remember earlier this year I was insulted on this forum for saying such a thing. Prices are going to fall ...
New day dawns for area business - Inrich.comThe business landscape in the Richmond area is significantly changed from a year ago, transformed by a national economy that is veering toward recession. Corporate names long associated with the region have been absorbed into other companies, moved ...
Register for FREE - Wall Street JournalPlease register to gain free access to WSJ tools. An account already exists for the email address entered. News about the Treasury ’s plan to purchase distressed assets from financial institutions monopolized headlines this week, but regardless of ...
Poor People's Dinner fund-raiser on Staten Island tonight - Staten Island AdvanceAdvance file photo Gabriel Farini, 8, was one of many youngsters who attended last year's Poor People's Dinner. Project Hospitality is holding its annual Poor People' Dinner tonight at the Hilton Garden Inn in Staten Island's Bloomfield community ...
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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