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.

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

When you have a 3% fixed-rate mortgage and the market rate is closer to 7%, you don’t casually list your house.

From Barron's

The average 30-year fixed-rate mortgage jumped from 6.07% to 6.21% on Tuesday, according to Mortgage News Daily.

From MarketWatch

The 30-year fixed-rate mortgage, which most home buyers use to finance their purchase, fell 22 basis points to 5.99%, according to a daily survey by Mortgage News Daily.

From MarketWatch

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