English version


From Longman Business Dictionary
Related topics: Finance
swaptionswap‧tion /ˈswɒpʃənˈswɑːp-/ noun [countable] FINANCE a loan with a VARIABLE interest rate (=one that changes) that can be exchanged for a loan with a fixed interest rate if rates fall below a certain levelThe swaption mortgage will allow borrowers to switch out of fixed rate if the variable rate falls.
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