What is the meaning of Payment rate?

Payment rate is the interest rate used to calculate the mortgage payment, which is usually but not necessarily the interest rate.

Barry Goldsmith
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APABarry Goldsmith. (2010). payment rate. Retrieved September 22, 2026, from http://smartdefine.org/payment_rate/definitions/1160319
ChicagoBarry Goldsmith. 2010. "payment rate" http://smartdefine.org/payment_rate/definitions/1160319 (accessed September 22, 2026).
HarvardBarry Goldsmith 2010, payment rate, Smart Define, viewed 22 September, 2026, <http://smartdefine.org/payment_rate/definitions/1160319>.
MLABarry Goldsmith. "payment rate" 21 October 2010. Web. 22 September 2026. <http://smartdefine.org/payment_rate/definitions/1160319>
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