variable-rate

[vair-ee-uh-buhl-reyt]

adjective

1. providing for changes in the interest rate, adjusted periodically in accordance with prevailing market conditions.

   a variable-rate mortgage.

Example Sentences

Borrowers of private student loans have already seen rates climb because of previous rate increases: Both fixed- and variable-rate loans are linked to benchmarks that track the federal funds rate, the Fed’s benchmark rate.

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Mason said HomeStreet had already begun shifting its lending strategy toward more variable-rate loans, which adjust with interest rates.

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It also has deep pockets: Earnings had almost tripled between 2021 and 2023, in part because of its larger portfolio of variable-rate business loans, Mason said.

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For starters, WaFd Bank was less vulnerable to rate hikes: Back in 2005, the bank began moving away from fixed-rate loans and toward more variable-rate commercial loans, said CEO Brent Beardall.

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Stuart Boxenbaum, president of Statewide Financial Group, a financial advisory firm, says that with interest rates rising, this fall is also a great time to aggressively pay off high-interest or variable-rate debt, such as credit card debt.

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