20 year mortgage rates Meaning and Definition
20 year mortgage rates
Pronunciation
/twen-tee-yer mour-gij raitz/
Part of Speech
Noun
Definition
A type of long-term home loan with a repayment period of 20 years, typically offered by banks and other financial institutions.
Etymology
The term “20 year mortgage rates” is a combination of the number of years in the repayment period and the concept of interest rates.
Usage Notes
When referring to 20 year mortgage rates, specify the interest rate and repayment period, for example, “The bank is offering 20 year mortgage rates at a 4% interest rate.”.
Cultural References
20 year mortgage rates have been a popular topic in financial news and advice articles.
Idiomatic Expressions or Phrases
N/A
Related Words or Phrases
- Mortgage
- Home loan
- Interest rate
Collocations
- 20 year mortgage rates with a low interest rate
- A 20 year mortgage rate with variable interest
Frequency of Use
20 year mortgage rates are a common topic in financial discussions and decisions.
Common Misspellings
- 20 yer mortgage rates
- 20 year mour-gij raitz