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Financial terms in "International Trade"

1. balance of payments surplus

2. United Nations Conference on Trade and Development

3. import quota

4. Country risk

5. OPEC

6. Countertrade

7. ECGD

8. free trade

9. Customs Broker

10. European Economic Area

11. forfaiting

12. Dumping

13. trade surplus

14. Organisation for Economic Co-operation and Development

15. trade deficit

16. UNCTAD

17. European Free Trade Association

18. common market

19. Trade War

20. Certificate of Origin

21. fair trade

22. Most Favored Nation

23. OECD

24. World Trade Organization

25. external trade

26. landing order

27. BOT

28. free trade zone

29. customs seal

30. Invisibles

31. creditor nation

32. EFTA

33. invisible trade

34. Bonded Warehouse

35. one-way trade

36. anti-dumping

37. debtor nation

38. tariff

39. anti-dumping duty

40. exportation

41. quota system

42. Exports

43. border tax adjustment

44. Free Port

45. import surcharge

46. open economy

47. Countervailing Duty

48. Balance of payments

49. trade barrier

50. GATT

51. Import Duty

52. protective tariff

53. European Community

54. import

55. Export-Import Bank

56. clearance certificate

57. counterpurchase

58. General Agreement on Tariffs and Trade

59. Customs Duty

60. bilateral trade

61. economic sanctions

62. Customs Union

63. international trade

64. visible

65. Quota

66. customs barrier

67. import penetration

68. Notifying Bank

69. EEC

70. Balance of trade

71. EEA

72. External market

73. Advising bank

74. balance of payments deficit

75. Trade Agreement

76. EC

77. embargo

78. WTO

79. Inland Revenue

80. offshoring

81. Landed Costs

82. free trade area

83. customs entry point

84. Export Credit Guarantee Department

85. Trade balance

86. Protectionism

87. MFN

88. BOP

Featured term of the day

Definition / Meaning of

Hybrid Mortgage

Categories: Finance,

Sometimes called an intermediate ARM, a fixed-period ARM, or a multiyear mortgage, a hybrid mortgage combines aspects of fixed-rate and adjustable-rate mortgages.The initial rate is fixed for a specific period - usually three, five, seven, or ten years - and then is adjusted to market rates. The adjustment may be a one-time change, or more typically, it changes regularly over the balance of the loan term, usually once a year. In many cases, the interest rate changes on a hybrid mortgage are capped, which can help protect you if market rates rise sharply.One advantage of the hybrid mortgage is that the interest rate for the fixed-rate portion is usually lower than with a 30-year fixed-rate mortgage. The lower rate also means it's easier to qualify for a mortgage, since the monthly payment will be lower. And if you move or refinance before the interest rate is adjusted - the typical mortgage lasts only seven years - you don't have to worry about rates going up.However, some hybrid mortgages carry prepayment penalties if you refinance or pay off the loan early. While prepayment penalties are illegal in many states, they are legal in others.

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