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fixed-rate mortgage

[fikst-reyt] /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.
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Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples from the web for fixed-rate mortgage
  • It is certainly true that lower interest rates will make buying a home through a fixed-rate mortgage more attractive to borrowers.
  • They were about as likely to have a fixed-rate mortgage as the more numerically able.
  • Certainly, any homeowner with a fixed-rate mortgage made a killing.
  • The loan portfolio is composed primarily of adjustable-rate commercial loans and fixed-rate mortgage loans.

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