Definition: The rate to which the interest rate on an adjustable rate mortgage is tied.
Pronunciation: \ˈin-ˌdeks\ \ˈrāt\
Used in a Sentence: The interest rate on one-year US Treasury securities is a popular index used by lenders.
Definition: The rate to which the interest rate on an adjustable rate mortgage is tied.
Pronunciation: \ˈin-ˌdeks\ \ˈrāt\
Used in a Sentence: The interest rate on one-year US Treasury securities is a popular index used by lenders.