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Plum Creek cuts 35 at Columbia Falls plant - MissoulianCOLUMBIA FALLS - Plum Creek Timber Co. announced the latest in a string of shift reductions Thursday, as a sluggish national real estate economy continues to reduce demand for wood products. The cutbacks affect 35 workers, or about one-fifth of the ...
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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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