Salem Mortgage Rates and Information Online from competing Lenders

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Businesses Likely to Feel Pressure From Mortgage Crunch - WFMJ.com
A Salem man is dragged to his death early this morning. Witnesses say they saw a man being dragged by a car down Midlothian Boulevard around one this morning. Police in Long Island, N.Y. say criminal charges may be possible in yesterday's trampling ...

Wells Fargo hires three lenders - Statesman Journal
SALEM — Carmen Babb, Alan Day and Sheila Freeland have been hired as lenders at Wells Fargo Home Mortgage at 580 State St. in Salem. Babb, a Salem native, worked as a mortgage consultant at Silver Falls Mortgage and Willamette Valley Bank for the ...

Smaller mortgage lenders see opportunity - Daily Business Review
s many of the biggest U.S. banks continue to pare back their mortgage lending, some smaller financial institutions see global financial turmoil as an opportunity to pick up market share. The eight largest mortgage lenders, as measured by total volume ...

Letter: Mortgage crisis might have been worse without CRA - Salem News
So Taylor Armerding has joined the conga line of conservatives blaming those darn liberals and their do-goodin' ways for the current economic mess ("Nothing 'free' about market that led to our economic downfall," Viewpoint, Thursday, Nov. 27 ...

Best Middle-Class Housing Markets - Forbes
Four years of tuition plus room and board at Cornell University in Ithaca, N.Y., costs $190,000. It's expensive, but an Ivy League education is usually a good investment. So, apparently, is a median-level home there. It's $179,000, up 5.9% over the ...

COMMON PLEAS - Salem News Online
Eric L. Reed of Salem and Darlene K. Reed of Salem; dissolution sought. U.S. Bank Association v. Heather and Jeremy Minor, etc; foreclosure sought against property Teegarden Road, Hanover Township. First National Community Bank v. Dennis R. Vanmeter ...

Capital One to buy Chevy Chase Bank for $520 mln - Guardian Unlimited
The hidden message in there is that they need capital," said Robert Lutts, president and chief investment officer of Cabot Money Management in Salem, Massachusetts. "Capital One is in the wrong place right now. If there is one part of the financial ...

Financial experts to speak this week in Pennsville - Bridgeton News
PENNSVILLE TWP. -- In today's struggling economy, it's important to know who to trust and where to go for reputable advice and counseling. Come to this week's Stone Soup Lunch and Lecture Series on Friday to hear the experts in the field from ...

Hatteras Financial Corp. Declares Fourth Quarter 2008 Dividend of $1 ... - Marketwatch
, , ) ("Hatteras" or "the Company") today declared a quarterly dividend of $1.00 per common share for the fourth quarter of 2008. The dividend will be paid on January 23, 2009, to stockholders of record on December 11, 2008, with an ex-dividend date ...

Oil prices 'will not rebound' - News.com.au
The prices will not begin to rise before the second half of 2009,'' said OPEC Secretary General Abdalla Salem El-Badri. Oil prices have slumped by two-thirds since striking record highs above $US147 per barrel in July, as the market has been rattled ...

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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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