PRINCIPALONLY (PO) STRIP
\pɹˈɪnsɪpˌalənli pˈə͡ʊ stɹˈɪp], \pɹˈɪnsɪpˌalənli pˈəʊ stɹˈɪp], \p_ɹ_ˈɪ_n_s_ɪ_p_ˌa_l_ə_n_l_i__ p_ˈəʊ__ s_t_ɹ_ˈɪ_p]\
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A mortgage that pays its principal from the securites. The price goes down as interest rates raise causing a slower repayment. The interest coupons are paid to investors in the interest only strip. There is less cash flow because the interest coupons do n
By Henry Campbell Black
Word of the day
hydromorphic
- [Greek] Structurally adapted to an aquatic environment, as organs of water plants.