INDEX
A book containing references, alphabetically
arranged, to the contents of a series or collection of
documents or volumes; or a section (normally at
the end) of a single volume or set of volumes con-
taining such references to its contents.
Statistical indexes are also used to track or
measure changes in the economy (for example, the
Consumer Price Index) and movement in stock
markets (for example, Standard & Poor’s Index).
Such indexes are usually keyed to a base year,
month, or other period of comparison.
In mortgage financing, the term is used to
determine adjustable-rate mortgage (ARM) inter-
est rates after the discount period ends. Common
indexes for ARMs are one-year Treasury SECURI-
TIES and the national average cost of funds to sav-
