What is the meaning of ramp?

1. A steady, noninstantaneous change in rates. Usually a projected change in rates with small, equal, incremental changes in each time period over a series of time periods until the full amount of the projected change is achieved. 2. A term used in residential lending and in the analysis of mortgage backed securities to describe projections of monthly prepayment speeds which increase from a low initial rate over a series of time periods until the full amount of the expected, final prepayment speed is reached. See: PSA model for an example.