Default risk

Default risk

Default risk describes the likelihood that a borrower will fail to make debt repayments as promised, or fail to meet other covenants of a loan agreement. Lenders assess a borrower's default risk when deciding whether to make a loan offer and what the terms of the offer should be.

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Loan Type Today
30 Year Fixed   6.05
15 Year Fixed   5.72
5/1 Adjustable   5.78

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