What do you want of Mortgage Interest Rates Today ?.
A capped rate mortgage has an interest rate that cannot rise above a pre-determined level for a specified period of time. After the capped rate period expires, the interest rate of the mortgage reverts to the lender's appropriate changeable Rate (Svr).
A cap and collar mortgage is similar to a capped rate mortgage except that is also has a lower limit, under which the interest rate cannot fall over a specified period of time.
