Index tracker mortgage


 

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Index tracker mortgage

The interest rate tracks an index such as the base rate or LIBOR and often has a set percentage added to it. 



Index tracker mortgage

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Mortgage arrears

Mortgage arrears

The amount of back pay you owe your mortgage lender for failing to meet your mortgage requirements.


Lehman Brothers Mortgage Backed Securities Index

Lehman Brothers Mortgage Backed Securities Index

A benchmark index that includes 15- and 30-year fixed-rate securities backed by mortgage pools of the Government National Mortgage Association (GNMA), Federal Home Loan Mortgage Corporation (FHLMC), and Federal National Mortgage Association (FNMA).


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A loan made directly from the seller to the buyer.


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In the US, an allowable federal tax deduction for the annual interest paid on a mortgage.


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A combined mortgage and current account. Any savings each month earn the mortgage rate, which is a relatively high and tax-free rate of return.


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