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interest rate cap
(redirected from Interest rate cap and floor)

    Also found in: Wikipedia 0.01 sec.
Interest rate cap
An interest rate agreement in which payments are made when the reference rate exceeds the strike rate. Also called an interest rate ceiling.
interest rate cap

In an adjustable-rate mortgage, a ceiling on the amount the interest rate may increase during any described period,such as one year,or over the lifetime of the loan.



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