A fixed-rate loan typically has a higher interest rate than the initial rate on a variable-rate loan.

Name: A fixed-rate loan typically has a higher interest rate than the initial rate on a variable-rate loan.
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Fixed-rate loans often start with a higher interest rate compared to the initial rate of variable-rate loans because they offer the stability of a constant interest rate over the life of the loan, while variable-rate loans may start lower but can fluctuate over time.

A Fixed-Rate Loan Typically Has a Higher Interest Rate Than