If you can find access to the Theological Wordbook of the Old Testament, ed. Laird Harris et al. (Chicago: Moody Press, 1980), read the article on ḥesed (I think they transliterate it chesed). It's included in the base package of both Accordance and BibleWorks (I couldn't find it in Logos, but it might be there). It's a healthy corrective to the older view that ḥesed just means "covenant loyalty" and nothing more. It means a whole lot more! It's the love that drives God to pursue his wayward people—even before they are his people! It's the love that drives God to become human in the incarnation. Or, as Michael Card put it so well, "he would rather die than live without us." That's what ḥesed is all about. "Loving kindness," "mercy," those are good starts, but it's much bigger than all those words.
So, all that to say, Merry Christmas!