fixed rate mortgage

Definition of "fixed rate mortgage"
  1. A loan for a home where the interest rate doesn't change for the whole term, often 15 or 30 years
How to use "fixed rate mortgage" in a sentence
  1. The couple opted for a fixed rate mortgage to avoid fluctuating payments.
  2. With a fixed rate mortgage, budgeting for monthly payments becomes easier.
  3. The bank offers competitive fixed rate mortgage options for first-time home buyers.
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