Definition of mortgage rate in English:
The rate of interest charged by a mortgage lender.
- Abbey National, the UK's second-largest mortgage lender, gets the wooden spoon, being the only major mortgage lender with a mortgage rate over 6% during 2002.
- Yet the building societies' cartel set its mortgage rate below prevailing interest rates.
- The mortgage rate changes every time interest rates change or, as in most cases, the overall effect of any interest rate changes is calculated once a year and payments are altered accordingly.
Definition of mortgage rate in:
- US English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Canada
Most popular in Australia
Most popular in Spain
Most popular in Malaysia
Most popular in Pakistan