What Is the Home Affordable Refinance Program (HARP)? The Home Affordable Refinance Program (HARP) was a program offered by the Federal Housing Finance Agency to homeowners who own homes that are worth less than the outstanding balance on the oan. The program has since ended, but it was intended to provide relief after the financial
What Is Home Bias? The term home bias refers to the tendency for investors to invest the majority of their portfolio in domestic equities, ignoring the benefits of diversifying into foreign equities. This bias was originally believed to have arisen as a result of the extra difficulties associated with investing in foreign equities, such as
What Is Home Country Bias? Home country bias refers to investors’ tendency to favor companies from their own country over those from other countries or regions. The tendency to invest in our own backyard is not unusual or surprising; it is a worldwide phenomenon, and certainly not unique to U.S. investors. This bias is also
What Is a Home Equity Loan? A home equity loan—also known as an equity loan, home equity installment loan, or second mortgage—is a type of consumer debt. Home equity loans allow homeowners to borrow against the equity in their homes. The loan amount is based on the difference between the home’s current market value and the
What Is a Home Inspection? A home inspection observes and reports on the condition of a real estate property, usually when it is on the market to be sold. A qualified home inspector assesses the property’s condition, including its heating and cooling systems, plumbing, electrical work, water, and sewage, as well as some fire and
What Is a High-Yield Bond Spread? A high-yield bond spread is the percentage difference in current yields of various classes of high-yield bonds compared against investment-grade corporate bonds, Treasury bonds, or another benchmark bond measure. Spreads are often expressed as a difference in percentage points or basis points. The high-yield bond spread is also referred
What Is Hindsight Bias? Hindsight bias is a psychological phenomenon that allows people to convince themselves after an event that they accurately predicted it before it happened. This can lead people to conclude that they can accurately predict other events. Hindsight bias is studied in behavioral economics because it is a common failing of individual
What Is the Health Insurance Portability and Accountability Act (HIPAA)? The Health Insurance Portability and Accountability Act (HIPAA) is an act created by the U.S. Congress in 1996 that amends both the Employee Retirement Income Security Act (ERISA) and the Public Health Service Act (PHSA). HIPAA was enacted in an effort to protect individuals covered
What Is a Hire Purchase Hire purchase is an arrangement for buying expensive consumer goods, where the buyer makes an initial down payment and pays the balance plus interest in installments. The term hire purchase is commonly used in the United Kingdom and it’s more commonly known as an installment plan in the United States.
What Is a Hiring Freeze? A hiring freeze is when an employer stops hiring workers, usually temporarily, in an effort to contain costs. Such cost-cutting may be the result of financial distress, but even large, successful companies may opt to pause hiring amid an economic slowdown, recession or instances of overcapacity. Hiring freezes may be
