Interest Rate
Definition of "Interest rate"
The rate, usually expressed annually, charged on money borrowed or lent. The interest rate may be variable or fixed. The higher the risk, the higher the interest rate. Mortgage interest rates are important to prospective home buyers.
Popular Real Estate Terms
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Fixed interest rate loan in which the payments are made every two weeks, but the payment is one half the amount of a regular monthly fixed-rate mortgage with the same amortization schedule. ...
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