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

A separate, daily survey of lenders by Mortgage News Daily said the 30-year fixed-rate mortgage fell to 6.17% as of Oct.

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The 30-year fixed-rate mortgage averaged 6.19% as of Oct.

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The Bank rate has a big impact on the interest homeowners face when taking out a new fixed-rate mortgage.

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According to Freddie Mac data, the interest rate on a 30-year fixed-rate mortgage has ranged from 6.62% to 7.04% so far in 2025.

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So-called swap rates, which influence the price of fixed-rate mortgage deals, have been falling in recent days.

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