Business and Personal Finance Dictionary

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• HONEYMOON RATES
  
  "Honeymoon" or introductory rates are offered to entice borrowers with a low advertised rate that may be as much as 2 percentage points below the standard home loan rate and therefore look very attractive. The rate can be fixed, capped or variable for the first six to 12 months of the loan. Then they automatically revert to the standard rate offered by that lender.
  
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