What is the rate an individual will pay for borrowing to purchase a new home called?

Question

Quizplus · Accepted Answer

The mortgage rate is the rate an individual will pay for borrowing to purchase a new home. The prime rate is the rate at which banks lend to their most creditworthy customers, the discount rate is the interest rate at which banks can borrow money from the Federal Reserve, the treasury bond rate is the interest rate at which the government can borrow money, and the corporate bond rate is the interest rate at which corporations can borrow money. None of these refers specifically to borrowing for a home purchase.

What Is the Rate an Individual Will Pay for Borrowing