Fixed-rate mortgage
A mortgage whose interest rate is set when the loan is made and doesn't change for the life of the loan.
Because the rate doesn't change, the monthly principal-and-interest payment stays the same for the whole loan. Source 1
A mortgage whose interest rate is set when the loan is made and doesn't change for the life of the loan.
Because the rate doesn't change, the monthly principal-and-interest payment stays the same for the whole loan. Source 1