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With computers, sometimes size does count - Taipei Times
Supercomputers, which are up to a million times faster than the typical desktop PC, are still staples in the data warehouses of national laboratories and universities in the US, Japan and Western Europe. But over the last few years, the falling cost ...

Diamonds beginning to lose their sparkle - Times Online
"No market, no liquidity and no confidence” sounds like the complaint of a mortgage-backed securities trader. In fact, it is a description of the diamond market by the head of the Antwerp World Diamond Centre. The industry hopes the price of top ...

BASF temporarily closing 80 plants - Buffalo News
Chemical company BASF SE said Wednesday it is temporarily closing 80 plants worldwide due to slumping demand and cutting production at 100 more, including facilities in Texas and Louisiana. Some 20,000 workers are affected. It also abandoned its goal ...

Details released in French bomb case - Las Vegas Sun
French authorities allege an Ottawa university professor bought a motorcycle used in a bombing that killed four people and injured 20 at a Paris synagogue in 1980, according to court documents released Thursday. Officials also allege Hassan Diab used ...

Merkel: Opel guarantee not yet certain - Salon
Nov 17th, 2008 | BERLIN -- Chancellor Angela Merkel says it is "not yet determined" whether automaker Adam Opel would be given euro1 billion ($1.25 billion) in loan guarantees from the German government. Merkel's statement Monday comes after a ...

Pina Bausch - Chicago Tribune
Sidi Larbi Cherkaoui grew up in Antwerp, Belgium, with a Muslim father, a Catholic mother and an inexhaustible need to express himself. Since childhood, he has "been trying to understand how it all connects." "I was a very brainy child and it was ...

Fishing for answers - Guardian Unlimited
The fish, of course, were first. The banks didn't come until much, much later, and with them the high-interest savings accounts and insanely leveraged investment vehicles, and the marauding young men with names such as Thor and Björgólfur whose ...

Local community banks remaining strong - Crescent-News
The sky might be falling for some national lenders that have been upset by the subprime lending crisis, but local community banks are sitting on solid foundations. The leaders of several Defiance-area banks with assets under $70 million say their ...

Taxpayer should take note of bail-out - bbc
That it should come to this. That Scotland's largest bank, indeed one of the world's largest banks, should require to be bailed out by the taxpayer. Quite frequently, politics can seem remote, obscure even. That is certainly not the case with today's ...

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Today's Mortgage Terms starting with A

  • Accrued Interest: Interest earned but has not been paid
  • Additional Principal Payment: A payment made by the borrower of more than the scheduled principal amount due with the purpose of reducing the remaining balance on the loan.
  • Adjustable Rate Mortgage: Loans with interest rates that are adjusted periodically based on changes of a pre-determined index. The index is based on market rates such as Treasury bills and prime rates. The ARM has an interest rate cap that limits the amount the interest rate can change.
  • Adjustment Period: Applicable to an ARM, the time between changes in the interest rate.
  • Amortization: Repayment of a debt with periodic payments, usually monthly, of principal and interest calculated to pay down the loan within a predetermined time.
  • Amortization Schedule: A timetable for payment of a mortgage detailing the amount of each payment applied to interest and principal and the balance left outstanding.
  • Annual Percentage Rate (APR): The cost of credit shown as a yearly rate. The annual percentage rate is usually not the same as the interest rate. The APR will be higher than the interest rate stated in the note due to the fact that it includes the interest rate, loan discount points, fees and mortgage insurance.
  • Appraisal Fee: A fee charged by a licensed, certified appraiser for a written estimate of a property's current market value at a specific time.
  • Assumable Mortgage: A mortgage that can be taken over by the buyer when a home is sold by the previous owner.
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