Terms with Tag Rates

  • Monetary Policy Committee (MPC)Acronym,
      In relation to central banks.
    • Monthly Periodic Rate Definition,
      • The interest rate factor used to calculate the interest charges on a monthly basis. The factor equals the yearly rate divided by 12.
    • Morbidity Rate Definition,
      • A measurement of how prevalent a medical condition or disease is.
    • Mortality Rate Definition,
      • A measurement of how many people in a particular population set and in a particular period of time die.
    • Mortgage Interest Rate (MIR)Acronym,
      • Mortgage Rate Definition, Very Important,
        • The interest rate on a mortgage loan.
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      • Note Rate Definition,
        • The percentage paid by a borrower for the use of money, usually expressed as an annual percentage on a promissory note.
      • Overnight Rate Definition,
        • The interest rate banks use to lend or borrow funds from each other.
      • Participation Rate Definition,
        • The rate at which changes in a stock index affect the profit credited to an annuity.
      • Penalty Rate Definition,
        • Several percentage points higher than a card's current annual percentage rate, which goes into effect after two late payments. On some cards, a single late payment triggers a penalty rate.
      • Periodic Rate Definition,
        • The interest rate in relation to a specific amount of time. For example, the monthly periodic rate is the cost of credit per month whereas the daily periodic rate is the cost of credit per day.
      • Periodic Rate Cap Definition,
        • In an adjustable-rate mortgage (ARM), it limits how much an interest rate can increase or decrease from one adjustment period to the next.
      • Posted Rate Definition,
        • The mortgage rates initially offered by a bank which a borrower is then expected to negotiate down.
      • Prime Rate Definition,
        • The rate suggested by the Bank of Canada on which most banks base their prime mortgage lending rate.
      • Principal and Interest (PI, P&I) Acronym,
        • Acronym for the elements of a mortgage payment: principal and interest.
      • Qualifying Rate Definition,
        • The mortgage rate that one must qualify for when applying for a variable rate or a term less than 5 years, so that if rates increase, the borrower can continue to make payments.
      • Rate Cap Definition,
        • A limit on how much the interest rate can change, either at each adjustment period or over the life of the loan.
      • Rate Hold Definition,
        • The length of time, typically between 60 and 120 days, that a lender will guarantee a loan's interest rate once you are locked in.
      • Rate Index Definition,
        • A table of yields or interest rates being paid on debt (such as Treasury notes or bank deposits) that is used to determine interest-rate changes for adjustable-rate mortgages and other variable-rate loans.
      • Rate Lock-in Definition,
        • A written agreement in which the lender guarantees the borrower a specified interest rate, provided the loan closes within a set period of time.
      • Rate of Interest (ROI)Acronym,
        • A percentage charged on a loan or paid on an investment for the use of the money.
        Same as interest rate.
      • Short Term Interest Rate (STIR)Acronym,
        • Simple Interest (SI) Acronym, Important,
          • Interest computed only on the principal balance, without compounding.
        • Small Business Interest Rate (SBIR)Acronym,
          • Special interest rates banks use for business loan that are typically higher then personal loan.
        • Step-rate Mortgage Definition, Important,
          • A fixed-rate home loan on which payments are lower at the beginning, typically for two years, and which then rise.
        • Teaser Rate Definition,
          • Often called the introductory rate, it is the below-market interest rate offered to entice customers to switch credit cards or lenders.
        • Unemployment Rate Definition,
          • The percentage of the labour force that is not employed but currently seeking work.
        • Usurious Rate Definition,
          • An interest rate that is unnecessarily high or well above legal rates. For example, sometimes intangible property taxes are applied to income from usurious rates.
        • Variable Interest Rate Definition,
          • Percentage that a borrower pays for the use of money, and which moves up or down periodically based on changes in other interest rates.
        • Variable Rate Definition,
          • A floating percentage value that fluctuates based on certain conditions.
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