Traditional standard fixed rate loans have the same rate and payments for the life of the loan.
Concerning "Standard Fixed Rate" In relation to any Competitive Loan (other than a Eurodollar Competitive Loan), Fixed Rate refers to the fixed annual interest rate that the Lender making the Competitive Loan specified in its associated Competitive Bid.
A house loan with a fixed interest rate for the duration of the loan is referred to as a standard fixed-rate mortgage. Once fixed, the interest rate is not affected by changes in the market. Fixed-rate mortgages are typically preferred by borrowers who seek certainty and/or who plan to keep their properties for a long time.
Learn more about standard fixed-rate here
https://brainly.com/question/24040386
#SPJ4
