Before revision: Examples When buying a house, many people choose a fixed rate mortgage, where the interest rate is set in stone , over a variable rate mortgage, where the interest rate fluctuates with the market .
After revision: Examples When buying a house, many people choose a fixed rate mortgage, where the interest rate is set for a specific time frame (typically several years), possibly from one month to the next , over a variable rate mortgage, where the interest rate fluctuates with the market .