Meaning of “adjustable rate” in the English Dictionary

business-english dictionary

"adjustable rate" in Business English

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adjustable ratenoun [ C ]

uk us also floating rate, also variable rate FINANCE, PROPERTY

an interest rate that can change over a period of time:

Nearly half of all mortgages written this year have an adjustable rate.
an adjustable-rate mortgage/loan

(Definition of “adjustable rate” from the Cambridge Business English Dictionary © Cambridge University Press)