👉 The Mortgage Three-Month Fixed-Rate Today.
A mortgage "Three-Month Fixed-Rate" is a term that describes a loan where the interest rates are tied to the interest rate on another mortgage in three months, typically with variable-rate mortgages (RVMs) or fixed-rate mortgages (FRMs). This means that the monthly payment will change based on changes in the interest rates of those other loans, rather than being fixed at its current level. For example, if a borrower takes out a $100,000 mortgage loan for 3 months with a variable rate, it might be "mortgage Three-Month Fixed-Rate Three" since both your monthly payment would be based on the interest rates of your other home loans (various types of mortgages like VA, FHA, Jumbo), and they change monthly. If one of these rates increases, your mortgage loan balance would rise; if it decreases, it would fall. This is why mortgage rates are "fixed," but rates can fluctuate. So, if you're wondering how much you'll pay per month on a $100,000 fixed-rate 3-year mortgage, the answer could be "mortgage Three-Month Fixed-Rate Three" or "mortgage Three-Month Variable-Interest Rate."
