mortgage index
Definition
An index applied to establish rates on adjustable rate mortgages (ARM). The three most commonly used indexes are the Constant Maturity Treasury CMT), the 11th District Cost of Funds Index (COFI) and the London Inter Bank Offering Rates (LIBOR). The same index is used to set the initial loan rate as well as the adjusted rates during the term of the loan.
Related Articles
- IRAs And The Economy *
- An Overview of Retirement Planning *
- Buy and Hold Stock Strategy *
- How to Budget for Post-Secondary Education *
- The Importance of Saving and How Much To Set Aside *
- What is a limited partnership (LP)? *
- Mutual Funds v. 401(k) for Retirement *
- How to Contest Errors in Your Credit Report *
Related Videos
http://www.businessdictionary.com/definition/mortgage-index.html
