| No |
REPORT |
SHORT DEFINITION |
| 1 |
Interest Rates |
In economics, the interest is a payment for the service of having the money or resources in advance. The interest rate is the amount of the interest expressed as a percentage of the principal. |
| 2 |
Real Interest Rates |
Real interest rates are interest rates where inflation has been accounted for. |
| 3 |
Nominal Interest Rates |
A nominal variable, such as a nominal interest rate, is one where the effects of inflation have not been accounted for. |
| 4 |
Federal Funds Effective Rate |
The Federal Funds Effective Rate is the weighted average of the interest rate that the borrowing bank pays to the lending bank to borrow the funds that is negotiated between the two banks. |
| 5 |
Bank Prime Loan |
The Bank Prime Loan is the interest rate that commercial banks charge their most creditworthy borrowers, such as large corporations. |
| 6 |
30 Year Fixed Mortgage Rate |
A 30-year fixed rate mortgage offers the lowest monthly payments of fixed rate loans for 30 years. Remember, the longer the term of the loan, the more total interest you will pay. |
| 7 |
15 Year Fixed Mortgage Rate |
The 15-year fixed rate mortgage allows homeowners to own their homes free and clear in half the time and for less than half the total interest costs of the traditional 30-year loan with higher monthly payments. |
| 8 |
Basic Points |
It is frequently, but not exclusively, used to express differences in interest rates of less than 1% per year. For example, a difference of 0.10% is equivalent to a change of 10 basis points. Therefore, a 4.67% rate increases by 10 basis points is equal to 4.77%. |
| 9 |
Beige Book |
The U.S. central bank's Summary of commentary on current economic conditions otherwise known as the Beige Book , compiles results from a survey that Fed investigators take of businesses in the nine Federal Reserve districts. |
| 10 |
LIBOR |
LIBOR is the rate that banks charge each other for loans denominated in Eurodollars and can range in time from overnight to 1 year and is set by the British Bankers Association. |
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