👉 Alright, let's break this down with a laugh! 'Rate mortgage interest' is like when your house's financial advisor decides to give you a little extra cash for every month you keep the door closed and the lights on. It's the fee you pay for letting someone else pay your bills. Think of it as the 'rental' fee for your cozy abode, but instead of a monthly payment, it's a yearly number that gets added to your mortgage bill like a surprise tax hike.
Now, here's an unsettling example sentence: "When the mortgage rate skyrocketed, the old couple couldn't afford the monthly 'interest' payment and had to choose between paying for their grandkids' college tuition or just keeping their house warm."
