prevailing rate


A term used to describe the average interest rate currently charged by lending institutions on mortgage loans.

Use prevailing rate in a sentence

I did not know what the prevailing rate was and it bothered me because I did not like having uncertainty.

​ Was this Helpful? YES  NO 3 people found this helpful.

You should always try to get the lowest prevailing rate you can so that you know you are not over paying.

​ Was this Helpful? YES  NO 5 people found this helpful.

The prevailing rate that was in the market place was 5.6%, so Harry was able to mortgage a much larger home than he has previously thought possible.

​ Was this Helpful? YES  NO 11 people found this helpful.

Show more usage examples...

Browse Definitions by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
usury rate interest rate call option