I J K

Index

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

Interest Rates

Interest Rates are how Lenders make money on your loan - they will charge a certain percentage of your outstanding loan, which will be added to the loan balance. Interest rates are usually quoted as the APR.
[Back to top]

Index
Interest Rates