fixed-rate mortgage

[ fikst-reyt ]

noun

1. 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

The inflationary trend is pushing the 30-year fixed-rate mortgage above 3 percent for good.

From Washington Post

Last year saw interest rates come significantly down, and we’re still seeing an average of 3% on 30-year fixed-rate mortgages.

From Washington Blade

The 30-year fixed-rate mortgage, the most popular mortgage product, rose above 3 percent for the first time in seven months this week.

From Washington Post

ARM loans have increasingly seen a smaller share of the market, given the historically low rates for fixed-rate mortgages.

From Washington Post

When a borrower takes out a loan such as a 30-year fixed-rate mortgage, a lender often bundles that loan with other loans into an MBS and then sells it to investors.

From Washington Post

What are the monthly payments on a 20-year, 5% fixed-rate mortgage with a loan of $200,000?

From The Daily Beast