mortgage rate

noun

1. the level of interest charged by building societies and banks on house-purchase loans

Example Sentences

In 2021, the average 30-year mortgage rate ranged from 2.79% to 3.05%.

From Los Angeles Times

The average 15-year mortgage rate never reached as high as 2.5% at any point in the year, so she paid more than the average.

From Los Angeles Times

The average two-year mortgage rate dipped below 5% earlier in August for the first time since former Prime Minister Liz Truss's mini-budget in September 2022.

From BBC

Commenting on the five-year mortgage rate drop, Mr French said: "The slow and steady fall in the cost of borrowing over the last year combined with strong average earnings growth has helped to marginally boost affordability for many homeowners and homebuyers."

From BBC

"As a result, a few modest mortgage rate reductions are the best borrowers can probably hope for in the short term as lenders adjust to prospect of higher rates for longer," Mr French added.

From BBC