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Is Japan's 'lost decade' a window to the future? - Globe and Mail
TOKYO -- As the worst financial crisis since the Great Depression unfolds around the world, everyone is wondering what the future holds. How bad could this get? For some sobering answers, just ask Kazumi Suzuki. With a bitter laugh, he recalls how he ...

Bank stocks get hammered again - CNN Money
NEW YORK (CNNMoney.com) -- Even as the rest of Wall Street hung onto slim gains on Friday, a handful of bank stocks tumbled, adding to sharp losses from Thursday. Shares of Citigroup ( C , Fortune 500 ) fell the most, down 28%, even though the bank's ...

4 divers die while cleaning Mexico water duct - San Francisco Gate
Four scuba divers died while performing maintenance in an aqueduct that supplies Mexico City, authorities reported Sunday. The Security Agency of Mexico State, which border Mexico City, said the men were experienced divers maintaining a huge ...

Lynn pols outraged over toll hike plan - Daily Evening Item
LYNN - The Massachusetts Turnpike Authority's Board of Directors voted Friday in favor of a proposal that would dramatically increase highway tolls in Greater Boston. The Ted Williams Tunnel toll would increase from $3.50 to $7 if the measure ...

Bank stocks lose ground again - CNN Money
NEW YORK (CNNMoney.com) -- A handful of big banks recovered from steeper losses earlier in the day Friday, following reports that President-elect Barack Obama will tap New York Fed President Timothy Geithner as Treasury Secretary. Bank stocks were ...

Affordable Mortgages? Tell That to the Banks - Wall Street Journal
Paulson, seemingly launching Operation Protect Legacy to take the sting out of Congress’s brutal treatment of his deputy, Neel Kashkari , has offered a parting piece of wisdom to his successors. They should renegotiate mortgages and stem home ...

Light at the End of the Recession - Weekly Standard
An odd thing is going on beneath the surface of the economic news. Several odd things, in fact. There is no question that all, or almost all, of the economic news is grim. New claims for unemployment insurance soared above the half-million mark last ...

Poor People's Dinner fund-raiser on Staten Island tonight - Staten Island Advance
Advance file photo Gabriel Farini, 8, was one of many youngsters who attended last year's Poor People's Dinner. Project Hospitality is holding its annual Poor People' Dinner tonight at the Hilton Garden Inn in Staten Island's Bloomfield community ...

Families on the brink Area agencies see a spike in requests for help ... - Register-Guard
Nothing about the past five months has been easy for Thomas Henderson. An assembly line worker at Monaco Coach Corp. in Coburg, the 39-year-old divorced father of three was among the temporary layoffs in June, leaving the family with no steady source ...

Finding Bargains Amid the Real Estate Rubble - CNBC
Carmen spoke on Tuesday’s show about growing your money for the long haul. Just because the market was up 900 points one day does not mean it will continue the next day. We’re likely in for a bumpy ride for some time, but if we commit to thinking ...

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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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