Mortgage Dictionary

Select a term from the dropdown text box. The online mortgage dictionary will display a definition, plus links to other related web pages.

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Interest Rate

Interest rate refers to the rate paid on borrowed money, usually expressed as a percentage of the amount borrowed. For example, if you borrow $100,000 at a 7% interest rate, you would pay $7,000 in interest.

See also:   Mortgage and Home Financing Costs