Real Estate Glossary

What is Variable Interest Rate?

A variable interest rate is an interest rate that can change over time. This type of interest rate is often used in adjustable-rate mortgages (ARMs) or other types of loans where the interest rate is not fixed. With a variable interest rate, the interest rate can change based on a variety of factors, such as market conditions or changes in the lender's cost of funds. This means that the monthly payments on a loan with a variable interest rate can change over time, which can make budgeting for the loan more difficult.

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