The interest rate is the cost of borrowing money expressed as a percentage rate. Interest rates can change because of market conditions.
Source: Federal Trade Commission
The amount of interest charged on a monthly loan payment; usually expressed as a percentage.
Source: U.S. Department of Housing and Urban Development
The simple interest rate, stated as a percentage, charged by a lender on the principal amount of borrowed money. See also: Annual Percentage Rate.
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Source: Ginnie Mae