HomeDefinitionsCompareDebt Rate lockThe financial definition for Rate lock:An agreement between the mortgage banker and the loan applicant guaranteeing a specified interest rate for a designated period, usually 60 days. Similar MatchesAccelerated cost recovery system (ACRS)Accelerated cost recovery system (ACRS)Schedule of depreciation rates allowed for tax purposes. Adjustable rateAdjustable rateApplies mainly to convertible securities. Refers to interest rate or dividend that is adjusted periodically, usually according to a standard market rate outside the control of the bank or savings institution, such as that prevailing on Treasury bonds or notes. Typically, such issues have a set floor or ceiling, called caps and collars that limits the adjustment. Adjustable rate mortgage (ARM)Adjustable rate mortgage (ARM)A mortgage that features predetermined adjustments of the loan interest rate at regular intervals based on an established index. The interest rate is adjusted at each interval to a rate equivalent to the index value plus a predetermined spread, or margin, over the index, usually subject to per-interval and to life-of-loan interest rate and/or payment rate caps. Further SuggestionsAdjustable rate preferred stock (ARPS)After tax real rate of return All equity rate Amortizing interest rate swap Annual percentage rate (APR) Annual rate of return Arithmetic average (mean) rate of return Click to compare definitions of Rate lock Click to view definitions beginning ra |