Mortgage rate


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Mortgage rate

Mortgage Rate

The interest rate on a loan used to buy real estate. Some mortgages have fixed mortgage rates, meaning that it remains constant over the life of the mortgage, while adjustable-rate mortgages have variable mortgage rates, meaning that interest rates change according to prevailing interest rates, at least within certain limits. The mortgage rate, along with the amount of the loan and the time until it comes due, helps determine one's monthly payment. See also: Mortgage-backed security.
References in periodicals archive ?
Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS), showing average mortgage rates holding relatively flat across the board.
57 percent, while the average 15-year fixed mortgage rate moved up to 2.
Mortgage rates continue to trend lower, with the average 30-year fixed mortgage rate setting another new record low of 3.
htm) Jonathan Miller , have said that the low mortgage rate is even hurting the housing market, making banks extremely selective because profit margins are so low.
He notes that mortgage rates didn't increase significantly in 2004 because the economy didn't grow very fast and because the dollar has remained weak.
7 billion now and how Congress chooses to manage it can impact mortgage rates and sales, according to statistics from the 2004 Economic Report of the President.
The analysts can then adjust the qualification criteria and the mortgage rate to examine how the change alters the number of households or families that can qualify for a mortgage on the reference house.
TORONTO -- Stability is expected to be in store for both fixed and variable mortgage rates - a contrast to continued economic uncertainty on the Canadian and global scale.
M2 EQUITYBITES-June 24, 2016-Bankrate survey finds mortgage rates rise ahead of Brexit vote
As short-term mortgage rates continue to rise, homebuyers are increasingly looking to long-term fixed-rate mortgages, according to Homebridge Mortgage Bankers.
7 percent from a year ago when the mortgage rate was higher.
A An ARM--short for adjustable rate mortgage--means that the mortgage rate is flexible based on current market interest rates.

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