caps (interest)
Limits on the amount an interest rate on an adjustable rate mortgage (ARM) may change during an adjustment interval or over the life of the loan. This is commonly a consumer safeguard, but it may also prevent interest rates from decreasing below a profitable level for a lender.
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The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
caps
Noun: cap (a tight-fitting headdress)
Noun: cap (a top (as for a bottle))
Noun: detonator, detonating device, cap (a mechanical or electrical explosive device or a small amount of explosive; can be used to initiate the reaction of a disrupting explosive)
Noun: cap (something serving as a cover or protection)
Noun: cap, pileus (a fruiting structure resembling an umbrella that forms the top of a stalked fleshy fungus such as a mushroom)
Noun: ceiling, cap (an upper limit on what is allowed) "they established a cap for prices"
Noun: crownwork, cap (dental appliance consisting of an artificial crown for a tooth)
Noun: capital, chapiter, cap (the upper part of a column that supports the entablature)
Verb: cap, crest (lie at the top of) "Snow capped the mountains"
Verb: cap (restrict the number or amount of) "We had to cap the number of people we can accept into our club"
interest
Noun: interest, involvement (a sense of concern with and curiosity about someone or something) "an interest in music"
Noun: interest, interestingness (the power of attracting or holding one's attention (because it is unusual or exciting etc.)) "they said nothing of great interest"; "primary colors can add interest to a room"
Noun: sake, interest (a reason for wanting something done) "for your sake"; "died for the sake of his country"; "in the interest of safety"; "in the common interest"
Noun: interest (a fixed charge for borrowing money; usually a percentage of the amount borrowed) "how much interest do you pay on your mortgage?"
Noun: pastime, interest, pursuit (a diversion that occupies one's time and thoughts (usually pleasantly)) "sailing is her favorite pastime"; "his main pastime is gambling"; "he counts reading among his interests"; "they criticized the boy for his limited pursuits"
Noun: interest, stake ((law) a right or legal share of something; a financial involvement with something) "they have interests all over the world"; "a stake in the company's future"
Noun: interest, interest group ((usually plural) a social group whose members control some field of activity and who have common aims) "the iron interests stepped up production"
Verb: interest (excite the curiosity of; engage the interest of)
Verb: concern, interest, occupy, worry (be on the mind of) "I worry about the second Germanic consonant"
Verb: matter to, interest (be of importance or consequence) "This matters to me!"
- caps (interest) -
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