Home mortgage rates Meaning and Definition

Pronunciation

/ˈhoʊm ˈmɔrˌtɪɡɪd ˈreɪts/

Noun

The percentage rate at which a lender agrees to lend a borrower a sum of money, usually expressed as an annual percentage of the loan amount.

The term “home mortgage rate” originated in the late 19th century, derived from the words “home,” “mortgage,” and “rate.”

When discussing home mortgage rates, it’s essential to consider factors such as the borrower’s credit score, loan term, and loan-to-value ratio.

The term “home mortgage rate” has been mentioned in various TV shows, such as “The Office” and “Mad Men.”

“Getting a good home mortgage rate” is an idiomatic phrase used to describe securing a favorable loan.

Home mortgage rates are frequently discussed in real estate and financial news, with new rates being released daily.