Definition of "Index"
- In real estate, the basis to set an adjustable rate mortgage, such as a 6-month certificate of deposit (CD) rate, cost of funds index, or prime rate.
- A statistical measure stated as percentage of a base period, For example, the Department of Commerce's Consumer Price Index (CPI) is based on 1982-1984 as 100. An index unlike an average, weighs prices by the size of the components
Popular Real Estate Terms
Fee payable because of late payment. For example, a mortgagor is assessed a $30 late charge by the bank for not paying the mortgage payment when due. ...
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Statement made by a person that is not in writing. An example is an oral representation made by a real estate broker to a prospective buyer of property. ...
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Supports a structure. ...
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