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Pressure on Citigroup builds, shares fall below $4 - Post-StarPeople walk into Citigroup headquarters on Park Ave on Friday, Nov .21, 2008 in New York. Shares of Citigroup Inc. climbed in premarket trading Friday, as the financial giant was said to be looking at selling off pieces of itself _ or the entire ...
Oil prices fall again as demand for fuel withers - Sioux City JournalCOLUMBUS, Ohio - Oil prices continued to fall Tuesday as a government report showed that gasoline prices in October plunged further than they ever have and home heating oil, natural gas, and liquefied petroleum gas fell substantially. Light, sweet ...
US gas prices dip below $2, lowest in 3-plus years - Sioux City JournalHOUSTON (AP) -- Only four months after peaking at an unheard of $4.11 a gallon, the national average price for gasoline tumbled below $2 Friday, its lowest point in more than three years. Yet the global economic contrast between then and now could ...
NM Mortgage Finance Authority expands role during housing crisis - New Mexico Business WeeklyThe housing market has changed, and so has the role of the New Mexico Mortgage Finance Authority . The quasi-government/quasi-nonprofit has long helped New Mexicans obtain mortgages and spurred development of affordable housing statewide. It is still ...
Tough economy: Here's how Bakersfield folks would solve the nation's ... - Bakersfield CalifornianThe teetering economy and its see-saw riders, fear and uncertainty, have made for interesting times, and it’s hard to know what will happen next. Debbie Moreno, president and chief executive, Greater Bakersfield Chamber of Commerce. Photo by Felix ...
Gas savings come at right time - Forest City SummitGas prices took another dive over the weekend, sending spirits soaring as people filled their tanks, some for the first time in months. “I just wasn't filling my tank; I couldn't because of the high price,” said Bob James, who was passing through ...
Consumer prices fell in October by biggest amount in 61 years - Kansas City StarConsumer prices fell by the largest amount in the past 61 years in October as gasoline pump prices dropped by a record amount. The Labor Department said Wednesday that consumer prices fell by 1 percent last month, the biggest one-month decline on ...
Amlak puts temporary halt on new home loans - Gulf NewsDubai: Amlak Finance PJSC, the UAE's biggest mortgage lender by market value, temporarily stopped granting new home loans as the global credit crisis threatens Dubai's property market and pushes mortgage providers to restructure. "We are reviewing ...
Edward Lawrence, Reporter - Lasvegas NowNevada voters will play a big role in deciding the presidential election. To minimize any problems, the state set up command centers and a task force to handle potential issues. A family spokesman says the Nevada campaign director for Barack Obama's ...
Inflation expected to be down in Canada, U.S. - Prince RupertOTTAWA - At the end of the coming week, the Bank of Canada will get an idea of how low it can go with interest rate cuts to stimulate the domestic economy, with the release of the October inflation report, while economic reports earlier in the week ...
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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