Interest Rate

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