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.

The 10-year gilt is the benchmark for government bonds, while the two and five-year gilts have an influence on fixed-rate mortgage rates of the same time frame.

From BBC • May 12, 2026

She bought her house on a five-year fixed-rate mortgage which expires in September.

From BBC • Apr. 27, 2026

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 • Mar. 6, 2026

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 • Jan. 27, 2026

“The price was absurd, and they were giving her a no money down option adjustable-rate mortgage,” says Eisman, who talked her into taking out a conventional fixed-rate mortgage.

From "The Big Short" by Michael Lewis

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