Stock Market. The stock market is the community of individuals and corporations engaged in the buying and selling of shares of companies, called stocks, on the open market. Shares of stock are traded on a stock exchange and are tracked on indices such as the New York Stock Exchange and the Nasdaq. In the U.S., the stock market is commonly referred to as Wall Street, the eight-block region in lower Manhattan in New York where many of the nationâs major financial institutions are based.
Refinancing may refer to the replacement of an existing debt obligation with another debt obligation under different terms.
2 major types of refinances are: 1  Rate-and-term refinancing to save money. Typically, you refinance your remaining balance for a lower interest rate and a term you can afford. 2  Cash-out refinancing, in which you take out a new mortgage for more than you owed. You take the difference in cash or you use it to pay off existing debt.