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N.J. banks drop 30-year mortgages below 5% - NorthJersey.com
Some New Jersey lenders have joined large banks such as J.P. Morgan Chase & Co. and Wells Fargo & Co. in offering 30-year fixed-rate home loans below 5 percent as average rates fell this week to a new low. Wayne-based Valley National Bank, the ...

Great Mall of the Great Plains sells for $20.5 million - Birmingham Business Journal
Glimcher Realty Trust said Tuesday that it has sold The Great Mall of the Great Plains in Olathe for $20.5 million. The company (NYSE: GRT) sold the 811,000-square-foot mall to Great Olathe Center LLC , a six-investor partnership led by David Block ...

Glimcher Announces the Sale of The Great Mall of the Great Plains ... - PR Newswire
COLUMBUS, Ohio, Jan. 6 /PRNewswire-FirstCall/ -- Glimcher Realty Trust, (NYSE: GRT) , on January 5, 2009, GRT, one of the country's premier retail REITs, completed the sale of The Great Mall of the Great Plains ("Great Mall"), a regional mall located ...

Stop The Bonuses - Forbes
These are tough times for Michael Bloomberg's free-spending "luxury city." High-end condominium speculators--long considered impervious to the mortgage crisis--are shivering in the bitter cold this winter. Four billion dollars in building projects ...

Opinion: Obama's Strategies Will Work - Street.Com
More on Opinion Opinion: Why I Love 'Hot Rod' Blagojevich Today's Outrage: Viacom's a Big Bully Today's Outrage: Here Come the Bankruptcies Today's Outrage: Do We Need GMAC? Today's Outrage: Stop Punishing the Dow Today's Outrage: Bank Bonuses Are ...

Glimcher sells Kansas mall for $20.5M - CNBC
COLUMBUS, Ohio - Mall owner Glimcher Realty Trust said Tuesday it sold a Kansas City-area mall for $20.5 million as part of a plan to sell off non-strategic properties. The real estate investment trust sold The Great Mall of the Great Plains in ...

Glimcher sells Kansas mall - MSN MoneyCentral
Glimcher Realty Trust has closed a deal to sell the Great Mall of the Great Plains in Olathe, Kan., its latest effort to unload “non-strategic” properties and focus on high-growth malls. The Columbus-based real estate investment trust said the ...

Giving helps fulfill basic needs - Stamford Advocate
The Advocate and Greenwich Time Giving Fund provides assistance to families in lower Fairfield County in desperate need. The cases are provided by Family Centers and Person-to-Person with assistance from the Volunteer Center of Southwestern Fairfield ...

Hupke To Head Board - TriVallyCentral
Keith Hupke,Langford and commissioner for district 3 will be chairman of the Marshall County Commissioners for 2009. The Marshall County Board of Commissioners reorganized for 2009 at its first meeting of the year on Tuesday. Keith Hupke, board ...

Hotel stocks suffer as travelers cut back - Honolulu Advertiser
NEW YORK — As the term "staycation" gained traction in the American lexicon, hotel stocks plunged in 2008 as both consumers and businesses cut back on travel spending. Demand for hotel rooms weakened in the spring and summer as soaring gas prices ...

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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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