The interest rate charged to your home loan tends to be connected with the latest lender’s best rates otherwise an effective pre-chose index speed
Variable Price Mortgage A mortgage where the interest rate and you will payments are increased otherwise reduced during the predetermined menstruation according to a great lender’s rate market comment
The real Estate Council out of Alberta (RECA) has actually wishing it glossary to aid Alberta people navigate real estate and you can home loan purchases. RECA is actually way to obtain natural and reputable guidance for customers throughout the a house and financial purchases within the Alberta.
Disclaimer: These terms and you can meanings are given to possess instructional motives only. Despite the fact that are considered become appropriate, the genuine House Council off Alberta (RECA) is not guilty of one deficiencies, faults, mistakes, omissions, completeness, suitability, precision, money, otherwise applicability away from information contains herein.