fixed-rate mortgage

American

[fikst-reyt] / ˈfɪkstˌreɪt /

noun

a home mortgage for which equal monthly payments of interest and principal are paid over the life of the loan, usually for a term of 30 years.

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

Instead, one driver of the standard 30-year fixed-rate mortgage’s move to an average national rate below 6% has been a tighter gap between the yields on mortgage bonds and corresponding Treasurys.

From The Wall Street Journal

A year ago, the average rate on a 30-year fixed-rate mortgage was 6.76%.

From MarketWatch

The 30-year fixed-rate mortgage fell 6 basis points to 6.04% on Friday, after the January inflation report was released.

From MarketWatch

Unlike the 30-year fixed-rate mortgage, which moves based on long-term Treasury yields, adjustable mortgage rates move based on the Secured Overnight Financing Rate, or SOFR, Barron’s previously reported.

From Barron's

The average rate on a 30-year fixed-rate mortgage didn’t budge following the announcement, despite Warsh having previously advocated for lower interest rates.

From MarketWatch

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023