actual interest rate
Also known as the 'note rate,' this is the annual interest rate paid on a loan. This rate is applied to a mortgage loan in conjunction with the annual percentage rate (APR) to compute your monthly mortgage payment.
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The following dictionary definition list is provided for clarification only. Note that many definitions are not directly applicable to mortgages, loans or other financial terminology in this glossary. Used with permission: WordNet 2.1 Copyright 2005 by Princeton University. All rights reserved.
actual
Adjective: actual, existent (presently existing in fact and not merely potential or possible) "the predicted temperature and the actual temperature were markedly different"; "actual and imagined conditions"
Adjective: actual (taking place in reality; not pretended or imitated) "we saw the actual wedding on television"; "filmed the actual beating"
Adjective: actual, genuine, literal, real (being or reflecting the essential or genuine character of something) "her actual motive"; "a literal solitude like a desert"- G.K.Chesterton; "a genuine dilemma"
Adjective: actual, factual (existing in act or fact) "rocks and trees...the actual world"; "actual heroism"; "the actual things that produced the emotion you experienced"
Adjective: de facto, actual, factual (existing in fact whether with lawful authority or not) "de facto segregation is as real as segregation imposed by law"; "a de facto state of war"
Adjective: actual (being or existing at the present moment) "the ship's actual position is 22 miles due south of Key West"
interest
Noun: interest, involvement (a sense of concern with and curiosity about someone or something) "an interest in music"
Noun: interest, interestingness (the power of attracting or holding one's attention (because it is unusual or exciting etc.)) "they said nothing of great interest"; "primary colors can add interest to a room"
Noun: sake, interest (a reason for wanting something done) "for your sake"; "died for the sake of his country"; "in the interest of safety"; "in the common interest"
Noun: interest (a fixed charge for borrowing money; usually a percentage of the amount borrowed) "how much interest do you pay on your mortgage?"
Noun: pastime, interest, pursuit (a diversion that occupies one's time and thoughts (usually pleasantly)) "sailing is her favorite pastime"; "his main pastime is gambling"; "he counts reading among his interests"; "they criticized the boy for his limited pursuits"
Noun: interest, stake ((law) a right or legal share of something; a financial involvement with something) "they have interests all over the world"; "a stake in the company's future"
Noun: interest, interest group ((usually plural) a social group whose members control some field of activity and who have common aims) "the iron interests stepped up production"
Verb: interest (excite the curiosity of; engage the interest of)
Verb: concern, interest, occupy, worry (be on the mind of) "I worry about the second Germanic consonant"
Verb: matter to, interest (be of importance or consequence) "This matters to me!"
rate
Noun: rate, charge per unit (amount of a charge or payment relative to some basis) "a 10-minute phone call at that rate would cost $5"
Noun: rate (a magnitude or frequency relative to a time unit) "they traveled at a rate of 55 miles per hour"; "the rate of change was faster than expected"
Noun: pace, rate (the relative speed of progress or change) "he lived at a fast pace"; "he works at a great rate"; "the pace of events accelerated"
Noun: rate (a quantity or amount or measure considered as a proportion of another quantity or amount or measure) "the literacy rate"; "the retention rate"; "the dropout rate"
Verb: rate, rank, range, order, grade, place (assign a rank or rating to) "how would you rank these students?"; "The restaurant is rated highly in the food guide"
Verb: rate (be worthy of or have a certain rating) "This bond rates highly"
Verb: rate, value (estimate the value of) "How would you rate his chances to become President?"; "Gold was rated highly among the Romans"
- actual interest rate -
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