providing for changes in the interest rate, adjusted periodically in accordance with prevailing market conditions: a variable-rate mortgage. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Example sentences
With more than a suspicion that mis-selling was at work, the insurers are loth
  to touch variable-rate policies now.
Rather it reflects lower rates for borrowers whose fixed-rate deals had expired
  and lapsed into cheaper variable-rate mortgages.
Suppose, for example, you are worried that interest rates on your variable-rate
  mortgage are about to climb sharply.
Mortgage costs have also been rising for those with variable-rate loans.
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