Your interest rate when adjusted will be based on an index rate (the "Index") plus a number of points (the "Margin"). Your monthly payments will then be based on the interst rate, loan balance and remaining loan term.
The index will be the weekly average yield on United States securities adjusted to a constant maturity of one year. The index is published weekly in the Federal Reserve Statistical Release H. 15 (519). Information about the index is also published in The Wall Street Journal. Your interest rate will equal the Index plus the Margin rounded to the nearest 1/8 of one percentage point (0.125%). Won Lee > Hmm. I don't want to give you the wrong answer. I never had a mortage > so I don't know it works. I have 10K in college loans so I know how > they work. Mortgage compounds daily? They give you the real rate and > the Annualized one? Is it based on what rate? LIBOR, Fed Funds, or > random number generator with a seed of the datetime? > > The question is not are rates going to go up. It is when are rates > going to go up. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Purchase Studio MX with Flash Pro from House of Fusion, a Macromedia Authorized Affiliate and support the CF community. http://www.houseoffusion.com/banners/view.cfm?bannerid=51 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:143872 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
