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Glossary

Mortgage[wikipedia] a loan obtained through the conveyance of property as security.
Interest Rate[dictionary] the interest percent that a bank or other financial company charges you when you borrow money, or the interest percent it pays you when you keep money in an account
Term[mtgprofessor] the years allowed to pay back a mortgage loan
Adjustable Rate Mortgage[investopedia] a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets
Fixed Rate Mortgage[bankrate] A mortgage in which the interest rate remains fixed for the length of the term

Interests Rates & Home Ownership Rates

mortgage definitions finance reference


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