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fixed-rate mortgage

American  
[fikst-rayt] / 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

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Rates for a 30-year fixed-rate mortgage hit 7.4% last month, their highest point in almost three years, before slipping in recent weeks.

From The Wall Street Journal ● Nov. 5, 2026

The 30-year fixed-rate mortgage rose to 7.17% on Monday, a 20-month high.

From MarketWatch ● Sep. 16, 2026

The 30-year fixed-rate mortgage averaged 6.81% as of the week ending July 31, according to the Mortgage Bankers Association trade group.

From MarketWatch ● Aug. 5, 2026

In that month, the popular average 30-year fixed-rate mortgage was 6.49 percent, up from 6.44 percent in May.

From Barron's ● Jul. 9, 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

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