fixed-rate loan

Fixed-rate loan

A loan whose rate is fixed for the life of the loan.

Fixed Rate Loan

A loan with an interest rate that does not change over the life of the loan. For example, if one borrows money at a fixed interest rate of 10%, then 10% is amortized over the maturity of the loan and thus payments never change. A fixed interest rate differs from a variable interest rate, which may change, at least within certain parameters. Most home mortgages in the United States are fixed rate loans.

fixed-rate loan

A certain percentage rate of interest that will not change over the life of the loan. Contrast with adjustable-rate loan or mortgage.

单词	fixed-rate loan
释义	fixed-rate loan Fixed-rate loan A loan whose rate is fixed for the life of the loan. Fixed Rate Loan A loan with an interest rate that does not change over the life of the loan. For example, if one borrows money at a fixed interest rate of 10%, then 10% is amortized over the maturity of the loan and thus payments never change. A fixed interest rate differs from a variable interest rate, which may change, at least within certain parameters. Most home mortgages in the United States are fixed rate loans. fixed-rate loan A certain percentage rate of interest that will not change over the life of the loan. Contrast with adjustable-rate loan or mortgage.
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