Floating
Floating
Floating, in general usage, means variable or not fixed. In lending, floating (as in floating rate) is sometimes used to describe a loan that has an adjustable interest rate. In timeshare ownership, floating describes ownership rights that aren't limited to a designated week or weeks of the year; the owner has the right to use the property for the specified length of time, but the exact dates of usage aren't defined.
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National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 5.02 |
| 15 yr fixed | 4.55 |
| 5/1 ARM | 3.99 |
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