Mortgage Glossary: I

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I

index
A published interest rate to which the interest rate on an Adjustable Rate Mortgage (ARM) is tied. Some commonly used indices include the 1 Year Treasury Bill, 6 Month LIBOR, and the 11th District Cost of Funds (COFI).

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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