One of the mysteries of the English language finally explained.
Denoting or relating to a loan or savings account with an interest rate that may be changed in response to economic conditions.‘over the last several years, variable-rate mortgages have proven to be money savers’
- ‘Most mortgage borrowers in the UK have variable-rate loans - the obvious exception is homeowners with fixed-rate deals.’
- ‘When the economy turns up, so will interest rates and the cost of variable-rate mortgages.’
- ‘Landlords with variable-rate mortgages have seen their profit margins squeezed by rising interest rates.’
- ‘Two-thirds of borrowers in the UK have variable-rate mortgages with most of the remainder on short-term fixed rates.’
- ‘The explosion of variable-rate mortgages and floating rate debt does provide the fodder to satisfy demand emanating from the proliferation of higher-yielding short-term ‘money’ funds.’
- ‘The average rate for a variable-rate credit card was 13.4%.’
- ‘Mortgage lenders have responded by raising rates for borrowers with variable-rate deals.’
- ‘In five weeks, however, interest rates on all variable-rate federal education loans are expected to rise by 2 percentage points.’
- ‘An ever-increasing proportion of mortgage financing has come in the form of variable-rate mortgages, where the payment increases as interest rates increase.’
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