Definition of mortgage rate in English:

mortgage rate

Line breaks: mort|gage rate

noun

  • The rate of interest charged by a mortgage lender.
    More 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.

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Word of the day milord
Pronunciation: məˈlôrd
noun
used to address an English nobleman