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mortgage rate

Syllabification: mort·gage rate

Definition of mortgage rate in English:

noun

The rate of interest charged by a mortgage lender.
Example sentences
  • 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:

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