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Mortgage Professor about who sets the prime rate: | |||||||||||||||||||||||
Is This a Good Time For an HEL?
7 June 2004 "I have a first mortgage for 161K at 7.125%, a second for 40K at 7.5%, and 50K of credit card debt at 13-19%. We could refinance the first and second mortgages into a fixed-rate loan at 6.25%. But we could also refinance them into a home equity loan at 4% (prime ... more... Tutorial on Selecting Mortgage Features Planning to shop for a mortgage on-line? You need to answer the following questions first, so you know exactly what you are shopping for. 1. What Type of Mortgage Should I Select? 2. Which Mortgage Options Should I Select? 3. How Long a Term Should I Take? 4. ... more... |
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who sets the prime rate related definitions |
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Adjustable Rate Mortgage, ARM
Adjustable Rate Mortgage (ARM) Also known as a variable rate mortgage. The interest rate on these mortgages changes periodically. Variable or adjustable loans are loans whose interest rate fluctuates over the period of the ... more... Prime Rate Prime Rate In North American banking, the prime rate is the interest rate a banks charge to their best or "prime" customers. Each bank will quote a prime lending rate. Many institutions quote prime rates established by large money center commercial banks such as ... more... |
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More about who sets the prime rate First Time Home Buyers - Get Your Top 5 Mortgage Questions Answered Here! Shopping Home Equity Loan Rates Option ARM - The World's Most Dangerous Mortgage Comparing Mortgage Rates Best Buy to Let Mortgages How to Tell if a Variable Rate Mortgage is for You Option ARM The Worlds Most Dangerous Mortgage Bad Credit? Finance Your Home Mortgage Loan with a Sub Prime Mortgage Lender The Seduction of a Married Man Using Refinancing to Secure Lower Interest Rates
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