Capped Rates

This refers to rates that are allowed to go up or down, but no higher than the limit set on the interest rate. For example, a 25-year loan was taken out at an interest rate of 5%, and a rate cap of 11%. This means that the interest rate could fluctuate throughout the lifetime of the loan, but never beyond the 11% cap. In a way, this is a mix between a fixed interest rate (the rate cap), and a variable interest rate (the fluctuating rate).

Capped Rates Articles & Guides

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