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5 Year Fixed Mortgage Rates When the mortgage rate is ‘fixed’ it means that the rate (%) is set for the duration of the term, whereas with a variable mortgage rate, the rate fluctuates with the market interest rate, known as the ‘prime rate’. So, for example, if the 5-year fixed mortgage rate is 4%, then you will pay 4% interest throughout the term of the mortgage.Banks Offering Lowest Mortgage Rate . and meet your goals. Check out our great rates at the mountainone bank mortgage center. We offer loans up to $2,000,000 for qualified buyers. click for terms and. We'll work with you to determine the best loan program for your needs.Who Has The Best Mortgage Rates For First Time Buyers Whats A Interest Rate Put yourself in the best position possible to get a good interest rate on a personal loan. image source: Getty Images. Just like going into the grocery store with a shopping list ensures you’ll come.