Index

Index
Published interest rate against which lenders measure the difference between the current interest rate on an adjustable rate mortgage and that earned by other investments, which is then used to adjust the interest rate up or down on an adjustable mortgage. (Investments could include one or more of the following: one, three, and five-year U.S. Treasury security yields, the monthly average interest rate on loans closed by savings and loan institutions, the monthly average costs-of-funds incurred by savings and loans.)
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