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Key economic reports may be movers this week - Boston GlobeThe Federal Reserve releases consumer credit for July. It's expected to have tightened to $8.6 billion, from $14.3 billion previously. Federal court hearing on Smithfield Foods Inc. 's racketeering lawsuit against a union seeking to organize workers ...
Careful with that axe, Tavish - Times OnlineLiberal Democrat leaders are not, as a rule, associated with marauding. Sex scandals, yes — Jeremy Thorpe, Paddy Ashdown and contender Mark Oaten have given British politics some memorable moments of high drama and low farce. Old-fashioned, red ...
Upcoming business events and economic reports - MSN MoneyCentralMONDAY, Sept. 8 WASHINGTON — Federal Reserve releases consumer credit for July, 3 p.m. Weekly Treasury auction. RICHMOND, Va. — Federal court hearing on Smithfield Foods Inc.'s racketeering lawsuit against a union seeking to organize workers at a ...
Coming Week: Rough Seas Ahead - Street.ComAs the market swung back and forth last week, with no apparent regard for logic, some investors were left scratching their heads, asking: What gives? The coming week may be more of the same, with reports on jobless claims, pending home sales ...
Treasuries Drop on Speculation Government Will Prop Up Agencies - BloombergTreasuries Drop on Speculation Government Will Prop Up Agencies By Dakin Campbell and Daniel Kruger Sept. 5 (Bloomberg) -- Treasuries fell amid speculation the U.S. is close to a plan to that would prop up troubled mortgage finance companies Fannie ...
Treasuries Head for Weekly Gain as Economy Sheds Jobs in August - BloombergTreasuries Head for Weekly Gain as Economy Sheds Jobs in August By Dakin Campbell and Daniel Kruger Sept. 5 (Bloomberg) -- Treasury 10-year notes headed for the biggest weekly gain since June after a government report showed the economy lost jobs in ...
Real estate short sales often end up being a long haul - Newark Star-LedgerDesmond Pessoa is ready to walk away. Last October, he made what he considered a pretty good offer on a distressed property in Washington Township. It was a short sale, meaning the owner aimed to sell the home for less than what he owed the bank. It ...
To the wanting, McCain's words are empty - Seattle Post IntelligencerWHEN SEN. JOHN McCain accepted the GOP nomination for president this week, I clung to his words, hoping he would speak to skeptical ears here at home. Ears like those of Reginald and Rosa Beck of Federal Way. Like hundreds of thousands of Americans ...
Mortgage crisis hits new depth - Cincinnati.comThe number of Southwest Ohio homeowners who went into foreclosure soared during the second quarter as the national mortgage crisis continued. Nationwide, a record 9.2 percent of mortgage holders were either behind on their payments or in foreclosure ...
Canadians support government's handling of economy: Flaherty - Globe and MailDavid Hogg from Victoria, Canada writes: Mr. Flaherty and his cabinet colleagues are economic heroes and legends in their own tiny little minds. The biggest difference in the US economy and ours is reflected in the mortgage market and housing market ...

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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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