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/ˈvɛər i ə bəlˌreɪt/
providing for changes in the interest rate, adjusted periodically in accordance with prevailing market conditions:
a variable-rate mortgage.
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for
With more than a suspicion that mis-selling was at work, the insurers are loth to touch
Rather it reflects lower rates for borrowers whose fixed-rate deals had expired and lapsed into cheaper
Suppose, for example, you are worried that interest rates on your
mortgage are about to climb sharply.
Mortgage costs have also been rising for those with
plans limit how much your payment may increase and how low your interest rate may fall if the index drops.
They can occur in both fixed-rate and
loans and can be in the form of points, fees, or the interest rate.
The amendment applies to
loans with a term exceeding one year and secured by the consumer's principal dwelling.
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