P a t r i c k J e f f r e y R e a l t yInterest is
the fee charged to a borrower for the use of loan proceeds. Interest rates are
highly variable, changing day to day with market fluctuations. The bulk of a
mortgage payment consists of interest during the early years of a loan. Interest
on a home mortgage is generally a tax deductible expense.
The interest rate on a home mortgage may be fixed or may be adjustable (subject
to change at certain specified times).
