Current odds the U.S. Prime Rate will continue at 4.00% after the September 20TH, 2017 FOMC monetary policy meeting: 29.5% (not likely), with remaining odds -- 70.5% (somewhat likely) -- that the U.S. Prime Rate will be at least 25 basis points (0.25 percentage point) higher.
âNet tangible benefitâ is defined as:ï·A 5 percent reduction to the P&I of the mortgage payment plus theannual MIP, or ï·Refinancing from an Adjustable Rate Mortgage (ARM) to a fixed ratemortgage. Note: Reducing the term of the mortgage, in and of itself, is not a nettangible benefit.
Defined Benefit Plans define the benefit ahead of time. That benefit is usually a monthly payment in retirement, based on the tenure of the employee, his or her salary, and possibly other factors. Payments are usually defined to be for the lifetime of the employee.