A "Fixed-Rate" refers to an interest rate that remains constant throughout the life of a loan or investment. This means that borrowers or investors can predict their payments or returns without worrying about fluctuations in interest rates. Fixed-rate loans are commonly used for mortgages, personal loans, and auto loans. The main advantage of a fixed-rate is stability. For example, if you take out a fixed-rate mortgage, your monthly payments will not change, making it easier to budget. This contrasts with variable-rate loans, where interest rates can rise or fall, potentially increasing monthly payments over time.