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A "flat rate" (more accurately known as fixed rate) for electricity is a fixed price per unit , not a fixed price per month, and thus different from that for other services. An electric utility that charges a flat rate for electricity does not charge different rates based upon the demand that the customer places on the system.
Their meaning is sometimes confused: The expression "flat rate" is sometimes mistaken for "fixed rate". As mentioned above, flat rate is a method of calculating the total cost of credit if all payments are made on time. Whether or not a rate is variable depends on the terms of the underlying agreement.
Fixed rates are beneficial when you need to borrow money and the Fed rate is low. This is particularly true when it comes to long-term financing, since a fixed rate also offers protection against ...
See today's average mortgage rates for a 30-year fixed mortgage, 15-year fixed, jumbo loans, refinance rates and more — including up-to-date rate news. ... 2024: Rates for 30-year terms flat, 15 ...
A certificate of deposit — called a CD — is a savings account that pays a fixed rate of interest on an initial deposit that you agree to lock away for an agreed-on period of time.
Given a fixed interest rate of 5%, the actual cost of the loan, with principal and interest combined, is $10,500.This is the amount that must be paid back by the borrower. A fixed interest rate is based on the lender's assumptions about the average discount rate over the fixed rate period.
Home buyers got a dose of good news last week after Freddie Mac reported another drop in mortgage rates. That happened despite the prospect of further interest rate hikes by the Federal Reserve,...
Fixed period: This is the period with the low introductory (and fixed) rate, which lasts for three to 10 years, depending on the loan. In an ARMs-naming convention, this is the first number (for ...