Rate

Importance: 0.57

Is a company: no

Is a proper noun: no

Synonyms

  • interest rate
  • mortgage rate

Definition of Rate

  1. An amount of a charge, either expressed as a percentage of, or a fee relative to some basis.
  2. In relation to mortgage, it is the percentage paid by a borrower for the use of money which is generally expressed as an annual percentage.

Related Terms and Acronyms

  • 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.
  • Bank Spread Definition,
    • The difference between the interest rate a bank charges a borrower and the interest rate a bank pays a depositor.
  • 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.
  • Note Rate Definition,
    • The percentage paid by a borrower for the use of money, usually expressed as an annual percentage on a promissory note.
  • Variable Rate Mortgage (VRM) Acronym, Very Important,
    • Home loan in which the interest rate is changed periodically based on a standard financial index. Also called an "Adjustable-rate Mortgage."
    A type of mortgage loan offered by brokers and lenders.
  • Capitalization Rate Definition,
    • An estimated percentage rate of return that a property will produce on the owner's investment.
  • Mortgage Rate Definition, Very Important,
    • The interest rate on a mortgage loan.
    You can compare mortgage rates using this website by clicking 'Rates' above.
  • Interest Rate (IR) Acronym, Very Important,
    • The rate a lender charges an individual to borrow money.
  • Amortization Table Definition,
    • A mathematical formula used to calculate monthly mortgage payments based on the borrowed loan amount, the interest rate, and the loan term.
  • Interest (IN, int) Acronym & Abbreviation,
    • Money paid for the use of borrowed funds, usually expressed as an annual percentage.
    Bank account transaction code.
  • Point Definition,
    • A point equals 1 percent of a mortgage loan. Some lenders charge "origination points" to cover expenses of making a loan. Some borrowers pay "discount points" to reduce the loan's interest rate.
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