Cap mortgage and interest rate adjustment mortgage (cap mortgage)

Contract under which a mortgage is taken out at variable interest rates. As a rule, the interest rate is adjusted quarterly and is based on an agreed reference interest rate, such as EURIBOR. In 2010, contracts with variable interest rates accounted for just under fifteen percent of mortgage loans in Germany, compared with around sixty percent in the United States in the same year. – See long-term culture, interest rate option.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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