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Man who beat his girlfriend is jailed - Peterborough Evening Telegraph
The city's crown court heard this was the fourth time David McDowall (35) had been prosecuted for assaulting Emma Foster, who had been his partner of five years and was the mother of his two children. His appearance before Judge Nicholas Coleman ...

Meltdown far from over, new mortgage crisis looms - KTIV
SOUTH SIOUX CITY, Neb. (KTIV) - Members of the Native American community march from Nebraska to Iowa, hoping every step brings Native American children closer to a home with Native American foster parents.

4.5 percent mortgage: Will it work? - Philadelphia Inquirer
Realtors, builders, and even the federal government have tried everything from giveaways to incentives to tax credits to get home sales back on track - all with scant results. The newest suggestion - 4.5 percent fixed-interest rates for home loans ...

U.S. MBA’s Mortgage Applications More Than Doubled Last Week - Daily Business Review
ortgage applications in the U.S. surged by a record last week as lending rates plunged after the Federal Reserve pledged to buy mortgage-backed debt. The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan ...

Barack Obama draws on America's economic brains - Daily Telegraph
Democrat Nick Allard (Ted Kennedy staffer since 1980) and Republican Ben Ginsberg (Bush elections campaigns) tell Robert Miller what President-elect Barack Obama can do to tackle America's economic troubles even before he takes office. And, what bi ...

Money $marts: That’s a lot of zeros - Naples Daily News
A politician, speaking about government spending, once facetiously remarked, “Add a few more zeros and pretty soon we’re talking real money.” Well, we’re talking real money now. It’s not billions any more; it’s trillions. That’s 12 ...

Lower Rates Help Sell Houses, but Market Faces Broader Ills - Wall Street Journal
A possible move by the Treasury Department to push down mortgage rates has raised the hopes of home buyers, real-estate agents and economists -- and the share prices of residential builders and related businesses. But the proposal, if implemented as ...

Mortgage rates fall, applications rise - Cincinnati.com
Some fixed-rate mortgages tumbled more than a half percentage point last week and mortgage application volume more than doubled during the shortened Thanksgiving week, according to the Mortgage Bankers Association's weekly application survey. The ...

Treasury Weighs Action on Mortgage Rates - Washington Post
Search for new homes, condos, and other real estate in Washington, D.C., Maryland and Virginia. Any efforts by the Treasury to lower rates on new mortgages would work in concert with a Federal Reserve plan announced last week to buy $500 billion ...

Great Wolf talking with lenders about mortgage extension - Milwaukee Journal Sentinel
Dec. 1, 2008 11:42 a.m. | Madison-based Great Wolf Resorts Inc. says it remains in discussions with its lenders regarding an extension of yesterday's maturity date on a $76.8 million mortgage loan on its Mason, Ohio, water park resort. Until those ...

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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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