Resources > Glossary > Fixed Rate Mortgage

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Fixed Rate Mortgage

Function: noun

Borrowers who want a lower interest rate often opt for an adjustable rate mortgage which has a fluctuating rate.

Definition 1:
A mortgage where the monthly payments remain constant regardless of how interest rates fluctuate.