REFINANCE WAVE
\ɹɪfa͡ɪnˈans wˈe͡ɪv], \ɹɪfaɪnˈans wˈeɪv], \ɹ_ɪ_f_aɪ_n_ˈa_n_s w_ˈeɪ_v]\
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Period in which a large number of borrowers refinance to change interest rates. When short-term interest rates decline, borrowers may replace long-term mortgages with short-term ARMs. When short-term rates rise, borrowers may replace short-term ARMs with long-term fixed mortgages to lock in current rates.
By Henry Campbell Black
Word of the day
basidiomycota
- comprises fungi bearing the spores on basidium: Gasteromycetes (puffballs); Tiliomycetes (comprising orders Ustilaginales (smuts) and Uredinales (rusts)); Hymenomycetes (mushrooms; toadstools; agarics; bracket fungi); in some classification systems considered a division of kingdom comprises fungi bearing spores on a basidium; includes Gasteromycetes (puffballs) Tiliomycetes comprising the orders Ustilaginales (smuts) and Uredinales (rusts) Hymenomycetes (mushrooms, toadstools, agarics bracket fungi).
Nearby Words
- refi bubble
- refigure
- refill
- refilling
- refinance
- REFINANCE WAVE
- refinancing
- refinancing risk
- refind
- refine
- refined