ceiling
The maximum interest rate allowed on an adjustable rate mortgage (ARM). This is also known as the interest cap.
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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.
ceiling
Noun: ceiling (the overhead upper surface of a room) "he hated painting the ceiling"
Noun: ceiling ((meteorology) altitude of the lowest layer of clouds)
Noun: ceiling, cap (an upper limit on what is allowed) "they established a cap for prices"
Noun: ceiling (maximum altitude at which a plane can fly (under specified conditions))
- ceiling -
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