Stated annual rate at which interest is calculated. On an Adjustable Rate Mortgage the accrual rate is determined from an independent market index, plus a margin, which is fixed at loan origination. The accrual rate is also called the note rate, coupon rate, or contract rate.
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 | Banking Dictionary. Dictionary of Banking Terms. Copyright © 2006 by Barron's Educational Series, Inc. All rights reserved. Read more |
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