Mortgage Term Glossary - Mortgage 2000

Mortgage 2000

Mortgage 2000

Mortgage 2000

Mortgage Term Glossary

Mortgage Term Glossary


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Term	Definition
Index	A number usually stated as a percentage upon which future interest rates for adjustable rate mortgages are based. Common indexes include the Cost of Funds for the Eleventh Federal District of banks, or the average rate of a one year Government Treasury Security.

Interest Rate	The periodic charge for use of credit, expressed as a percentage.

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