In real estate, interest rate means: The percentage a lender charges for borrowing money, which decides how much a mortgage costs on top of the amount borrowed.
In Turkish: faiz oranı
How it is used
Buyers, agents and brokers watch interest rates closely because they affect monthly payments and demand. Rates can be fixed or variable, and people say rates rise, fall or are locked in.
Example sentences
Higher interest rates have slowed down sales this year.
The bank offered them an interest rate of 4.5%, fixed for five years.
Common collocations
low interest rate
lock in an interest rate
interest rates rise
annual interest rate
Related terms
mortgageA long-term loan used to buy a property, in which the property itself serves as security for the lender until the loan is paid back.
fixed-rate mortgageA home loan whose interest rate stays the same for an agreed period or for the whole loan, so the monthly payment does not change.
adjustable-rate mortgageA home loan whose interest rate can go up or down over time in line with a market index, so the monthly payment may change.
lenderA bank or other financial company that lends money, especially one that provides mortgages to home buyers.
refinanceTo replace an existing mortgage with a new one, usually to get a lower interest rate, change the term or borrow extra money against the property.
This word in other fields
The same English word can have a different meaning in another field:
