Interest Rate

This Issue in United States

Interest Rate in the Context of Mortgage Refinancings

In this context, a definition of Interest Rate may be distilled, worded as follows: The price paid for borrowing money, usually stated in percentages and as an annual rate.

Interest Rate in relation to Home Equity Lines of Credit

In this context, a definition of Interest Rate is provided: The percentage rate used to determine the cost of borrowing money, stated usually as a percentage of the principal loan amount and as an annual rate.