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Interest Rate

The percentage of the value of a balance or debt that one pays or is paid each time period. For example, if one holds a bond with a face value of $1,000 and a 3% interest rate payable each quarter, one receives $30 each quarter. The percentage of the interest rate remains constant (usually), but the amount one pays or is paid changes according to the amount of the balance or debt. For example, if one pays off part of the principal on a loan each month, the amount one pays in interest decreases even though the rate remains the same. See also: Time Value of Money.
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The Mortgage Encyclopedia. Copyright © 2004 by Jack Guttentag. Used with permission of The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Any class of spots that run in a unique time period, with a unique rotation or unique rights attached to it (e.g., different levels of preemptibility, different make-good rights, etc.), will have a different lowest unit rate. Stations need to review each class of time sold on their station, find the lowest rate charged to a commercial advertiser for a spot of the same class that is running at the same time that the candidate wants to buy a spot, and that lowest rate will be what the candidate is charged.
Karen Donovan, South Central WIC's community coordinator, said, "The complexity of unit rate for the WIC program is staggering.
Starts of apartment units (in structures with five or more units) increased 1 percent to a 301,000 unit rate in July from a 298,000 unit rate a month earlier.
Housing starts in June declined to a 1.672 million unit seasonally adjusted annual rate, from a revised 1.735 million unit rate for May, according to the U.S.
Housing starts climbed 9.7% to a 1.33M unit rate in January while building permits rose 7.4% to a 1.4M unit rate.
Customers will also pay a simple fixed standing charge and single unit rate for their energy from 15 October 2012, while a clearer fixed discount will be provided to customers who choose lower cost options such as payment by direct debit and paperless billing.
Groundbreaking during May was revised up to a 711,000-unit pace from a previously reported 708,000 unit rate. April's reading was also revised slightly higher.
The previous record was a 5.94 million unit rate set in December 2002 and repeated in January 2003.
Housing starts in May rose 11.6 percent to a 1.733 million unit seasonally adjusted annual rate, from a revised 1.553 million unit rate for April, according to the U.S.