Rate Cap

Business / Real Estate / Rate Cap: The limit on the amount the interest rate can be increased at each adjustment period in an adjustable rate loan. The cap may also set the maximum interest rate that can be charged during the life of the loan.

Other Words for Cap

Cap Verb Synonyms: surpass, outdo, outstrip, better, beat, exceed, top, excel
Cap Noun Synonyms: hat, head covering
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Other Words for Rate

Rate Verb Synonyms: measure, pace, gait, speed, velocity, clip
Rate Noun Synonyms: rank, grade, class, classify, evaluate, estimate, calculate, compute, count, reckon, judge, gauge, assess, appraise, measure
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Interest Cap

Business / Debt / Interest Cap: The maximum interest rate increase of an Adjustable Mortgage Loan. For example: a 120% loan with a 5% interest rate cap would have maximum interest for the life of the loan which would not exceed 17%. MORE

Cap

Business / Construction / Cap: The upper member of a column, pilaster, door cornice, molding, or fireplace. MORE

Adjustable-Rate Mortgage (ARM)

Business / Finance / 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 MORE

Interest Rate Futures Contract

Business / Finance / Interest Rate Futures Contract: An interest rate agreement in which payments are made when the reference rate falls below the strike rate. Related: Interest rate cap. MORE

Nominal Exchange Rate

Business / Finance / Nominal Exchange Rate: The actual foreign exchange quotation in contrast to the real exchange rate, which has been adjusted for changes in purchasing power. MORE

Nominal Interest Rate

Business / Finance / Nominal Interest Rate: The interest rate unadjusted for inflation. MORE

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