A – C A adjustable-rate mortgage (ARM) A mortgage loan with an interest rate that changes during the term of the loan based on the adjustment period. amortization A loan calculation that shows how principal and interest are paid off over a set period of time. amortized A loan in which the payments are spread […]
Mortgage Rates Climb for Fourth Straight Week as Easy Money Crackdown Begins
Rates for home loans ticked up slightly, a reminder that the easy-money era for mortgages will likely have to end at some point. The 30-year fixed-rate mortgage averaged 4.20% during the April 25 week, Freddie Mac said Thursday. That was up three basis points during the week and marked the fourth straight weekly rise for the […]
Glossary of Homeownership Terms & Definitions
A – C A adjustable-rate mortgage (ARM) A mortgage loan with an interest rate that changes during the term of the loan based on the adjustment period. amortization A loan calculation that shows how principal and interest are paid off over a set period of time. amortized A loan in which the payments are spread […]