What are basis points?
The Bankrate.com financial term of the day is: "Basis Point"
You'll notice that mortgage rates are typically given in numbers that go two digits beyond the decimal point. The movement of those rates is expressed in terms of basis points. One basis point is equal to one one-hundredth of a percentage point. So when an average rate, for example, rises from 4.51 percent to 4.52's a difference of 1 basis point.
Mortgage rates move up and down in a kind of increment called a basis point, which is the same as 0.01 percent.
To find a great rate on a home loan, visit the Mortgage section at Bankrate.com.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused. We do not permit the inclusion of hyperlinks in comments and may remove any comment that includes a hyperlink.
Tesla will offer a new version of its Model S that would make it the fastest accelerating production car today and the third fastest ever produced.
... Read more