Plain-English definitions for the terms you'll encounter on your financial journey.
Optional fees paid to a lender at closing in exchange for a lower interest rate on a mortgage.
Economic data points that change only after the economy as a whole has changed. Examples include the unemployment rate and corporate profits.
Economic data points that tend to change before the rest of the economy starts to follow a particular trend. They are used to predict future economic activity.
The set number of percentage points a lender adds to an index rate to determine the final interest rate for a borrower.
Fees paid directly to a lender at closing in exchange for a lower interest rate on a mortgage.