fixed-rate mortgage

American  

[fikst-reyt] / ˈfɪkstˌreɪt /

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

That’s still lower than a year ago at this time, when the 30-year fixed-rate mortgage averaged 6.65%.

From MarketWatch

The process frees up cash for banks and other lenders to make even more loans and is credited in part for making possible the 30-year fixed-rate mortgage, which is hard to come by in countries outside the U.S.

From Barron's

Last week, the 30-year fixed-rate mortgage dropped below 6% for the first time in 3½ years, giving a potential boost to the long-suffering housing market just before the important spring selling season.

From The Wall Street Journal

The average rate on a 30-year fixed-rate mortgage was 6.13% as of Tuesday afternoon, according to Mortgage News Daily.

From MarketWatch

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