Bankrate's financial glossary
Did you run across an unfamiliar term when applying for a mortgage, credit card
or auto loan? Find the meaning here, along with definitions of other financial words
and phrases, in Bankrate.com's financial glossary.
Percentage a lender or depositor earns for permitting someone else to use their money, usually expressed as an annual percentage.
A home loan that allows the borrower a one-time interest rate cut without paying refinancing charges.
A table of yields or interest rates being paid on debt (such as Treasury notes or bank deposits) that is used to determine interest-rate changes for adjustable-rate mortgages and other variable-rate loans.
A lender's guarantee that the mortgage rate quoted will not change for a specific period. The borrower wants the lock to stay in effect until closing.
A real-estate agent or broker who is affiliated with the National Association of Realtors. "Real-estate agent" is a generic term and Realtor is a trademarked term.
A charge by a local government to file official records of a real-estate transaction.
The illegal practice of lenders and insurance companies to deny policies, loans and other services to people because of their neighborhood or ethnicity.
The repayment of a mortgage with another mortgage. Homeowners typically refinance to take advantage of lower interest rates or to transform equity into cash.
A rule, enforced by the Federal Reserve Board and implementing the Truth-in-Lending Act, that requires lenders to disclose all credit-related costs including the annual percentage rate.
Money and other consideration that an employer gives to employees who move or are transferred at the company’s behest. Can include reimbursement for packing and moving, house-hunting trips, and temporary housing and storage.