LOCKED-IN INTEREST RATE
Refers to a binding commitment where the borrower and the lender agree at a certain interest rate and at the specified period. The lending institution commits to charge this locked-in interest rate as a legal commitment. If some qualifications or exceptions are not met during the term of the loan, the lender can charge a higher rate.
Also called fixed rate.
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| 14:30 | Consumer Price Index Core | Feb |
