Original interest rate on an adjustable mortgage. Sometimes the initial "teaser" rate is below the current market rate.
Initial payment
The down payment on the price of a piece of real estate.
Initial rate cap
Specific limit of some adjustable rate loans (ARMs) defining the maximum amount the interest rate may increase at the expiration of the original interest rate.
Initial rate duration
A time period, lasting either months or years, before the initial interest rate expires and an increase takes place.
Initial rate of absorption
In accordance with ASTM C67, weight of the water that can be absorbed in one minute by a partially water immersed brick.
Initial set
The first hardening of mortar.
Injunction
A court order issued to a defendant in an action either prohibiting or commanding the performance of a defined act. Violation of an injunction could lead to a contempt of court citation.
Inlay
To set pieces of wood, metal, etc. into a surface, making a design that is normally level with the surface of the base material. Tabletops are often created with different types of wood.
Inlet
An entrance, opening, or aperture for the intake of fluid or gas.
Inner city
The central core of a city, which generally includes the older and more urbanized sections. It contains the major commercial center, termed the central business district. The term also applies to densely populated areas characterized by poor housing and high crime rates.
