; interest rate (IR) The rate a lender charges an individual to borrow money. Define Fixed Rate Mortgage Loan. Your borrowing costs and monthly payments remain the same for the term of the loan, no matter what happens to market interest rates. A mortgage with payments that remain the same throughout the life of the loan because the interest rate and other terms do not change. This allows the borrower to accurately predict their future payments. The fixed-rate mortgage loan is one of the most common mortgage products. Bankrate, LLC NMLS ID# 1427381 | NMLS Consumer Access After this period, the rate will revert to a variable rate, unless you enter into another fixed-term contract. Fixed-rate mortgage definition: a home mortgage for which equal monthly payments of interest and principal are paid over... | Meaning, pronunciation, translations and examples These loans typically charge monthly interest based on a fixed-rate. The benefit of having this type of mortgage is to have a constant interest. The lowest fixed rate Conventional mortgages may offer a lower interest rate and Annual Percentage Rate (APR) than other types of fixed-rate loans. Is it a good idea to have a Fixed Rate Mortgage? A non-amortizing loan is an alternative type of lending product in which payments on the principal are not made until a lump sum is required. Since the interest rate remains constant, monthly payments don’t change. See more. A fixed-rate mortgage is a long-term loan that you use to finance a real estate purchase, typically a home. A mortgage where the interest rate remains the same through the term of the loan and fully amortizes is known as a fixed rate mortgage. Usually, lenders provide either fixed, variable or adjustable mortgage loans. Fixed-rate mortgages provide borrowers with an established interest rate Interest Rate An interest rate refers to the amount charged by a lender to a borrower for any form of debt given, generally expressed as a percentage of the principal. Here’s what it means. Fixed-Rate Mortgage: A Definition Loan Types - 5-minute read December 07, 2020 A fixed-rate mortgage is one of the main home loan options for prospective buyers. With a fixed rate, the interest rate, and monthly payments remain the same during the entire term of the mortgage (not amortization period). When rates rise, a borrower maintains a lower payment compared to current market conditions. Fixed-rate mortgages. A fixed rate mortgage provides the security of fixed mortgage repayments until an agreed date, no matter what happens to interest rates. A fixed-rate mortgage is a loan where the debtor has to pay a fixed interest for the entire loan term. A fixed-balloon mortgage can benefit you if you don’t intend to own the property for the full mortgage term. With a fixed rate mortgage, the mortgage rate and payment you make each month will stay the same for the term of your mortgage . These are usually referred to as balloon-payment or interest-only loans. Lenders advertise and offer variable, or adjustable-rate mortgages (ARM), or fixed-rate loans. And like all of our mortgage products the greater your equity or deposit, the lower your Loan to Value (LTV) ratio is, and so the better the rate HSBC can offer you. ; interest rate (IR) The rate a lender charges an individual to borrow money. Adjustable-rate mortgages are a fixed- and variable-rate hybrid. This can be as short as two years or as long as 10 years. A fixed interest rate loan is a loan where the interest rate doesn't fluctuate during the fixed rate period of the loan. These rates tend to change at certain periods. If a borrower places the property tax and homeowner’s insurance payments in escrow the fixed-rate mortgage payment can increase. Jane is shopping for a home and doesn’t want her mortgage payment to fluctuate. Fixed-rate mortgages make up the majority of mortgages in the U.S. Popularity of fixed versus variable mortgage rates . Common ARMs have a fixed rate for one, three, five, seven or 10 years. However, should interest rates drop, borrowers cannot take advantage of the drop unless they refinance the mortgage. Get insider access to our best financial tools and content. The slow and steady decline in mortgage rates continues unabated. Once locked-in, the interest rate does not fluctuate with market conditions. A fixed-rate mortgage can either be a conventional loan or a loan secured by the Federal Housing Authority, Fannie Mae or Freddie Mac . In this article, you will indeed find some essential and interesting information about the fixed-rate mortgage. A fixed-rate mortgage is a home loan where the interest rate doesn't change during the life of the loan. The rate you get when you secure the loan will be the rate you have the whole time you’re paying your mortgage. Examples of fixed-rate mortgage in a sentence, how to use it. Your mortgage interest rate, and your total monthly payment of principal and interest, will stay the same for the entire term of the loan. Chances are, if you have a mortgage and are unsure what type it is, it’s a fixed-rate mortgage. Borrowers typically seek to lock in lower rates of interest to save money over time. With a variable rate mortgage, however, the mortgage rate will change with the prime lending rate as set by your lender. Fixed-rate mortgages are a good choice if you: A fixed-rate mortgage is a home loan with a fixed interest rate for the entire term of the loan. Simply put, to understand what is a fixed-rate mortgage? Fixed-rate mortgages are loans having a fixed installment structure. Definition of fixed rate mortgage in the Definitions.net dictionary. It is an interest rate that a buyer has to pay on the entire life of the loan. So someone with a 15-year term will pay less in interest than someone with a 30-year fixed-rate mortgage. Which certificate of deposit account is best? After the fee is paid, the loan converts to a fixed-rate mortgage . Borrowers make monthly payments of interest with no payment of principal required until a specified date. What does fixed rate mortgage mean? Most amortized loans come with fixed interest rates, although there are cases where non-amortizing loans have fixed rates, too. Conversely, the longer the borrower takes to pay, the smaller the monthly repayment amount. A fixed-rate mortgage’s interest rate remains the same throughout repayment of the loan. A fixed-rate mortgage can be defined as a loan whose interest rate remains constant throughout the term (as compared to the floating rate which adjusts as per the market conditions) and most of the payment is towards the interest in the initial period, whereas, at the end of the term, the majority of the payment is towards the principal amount. Legal Definition of fixed rate. A fixed rate makes it easier to budget for payments. Modified entries © 2019 by Penguin Random House LLC and HarperCollins Publishers Ltd Learn about fixed-rate mortgages, how they work, and if one is right for you. Fixed-rate mortgages have a fixed interest rate for the loan's entire term. These loans are also usually issued as an amortized loan with steady installment payments over the life of the loan. The most common fixed-rate mortgages are 15-year and 30-year loans. Trying to decide between multiple loans? Find out what the experts say. Terms can range anywhere between 10 and 30 years for fixed-rate mortgages, which are popular products for consumers who want to know how much they'll pay every month. Amortization schedules can be slightly more complex with these loans since rates for a portion of the loan are variable. A fixed-rate mortgage is a home loan with a fixed interest rate for the entire term of the loan. A fixed-rate mortgage is the opposite of a variable-rate mortgage, such as a 5/1 ARM. There are several kinds of mortgage products available on the market. An adjustable-rate mortgage, or ARM, ties the interest rate to a margin that includes a stated index, such as the Libor or Treasury bill yield. With variable-rate loans, the interest rate isn't fixed. Fixed-rate mortgages make up the majority of mortgages in the U.S. A Little More on What is a Fixed-Rate Mortgage A fixed-rate mortgage, often referred to as a "vanilla wafer" mortgage loan, is a fully amortizing mortgage loan where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may adjust or "float". Generally speaking, the longer you fix for, the more it will cost. In a market with falling interest rates, the opposite is true. Mortgage derivatives are investment securities developed by the financial industry to provide different risk and interest-rate profiles from pools of mortgages. As a result, payment amounts and the duration of the loan are fixed and the person who is responsible for paying back the loan benefits from a consistent, single payment and the ability to plan a budget based on this fixed cost. The total payment of a fixed-rate mortgage remains stable, even though the amount of principal … An open mortgage is one that can be prepaid anytime without penalty, but comes with higher rates. A fixed-rate mortgage is a type of mortgage loan whose interest rate does not change throughout the loan duration. That's because the interest rate in a fixed-rate mortgage doesn't change for every installment payment. If the ARM is held long enough, the interest rate will likely surpass the going rate for fixed-rate loans. Borrowers who know they'll refinance or won't hold the property for a long period of time also tend to prefer ARMs. Features and Benefits of 15-Year Fixed Rate Loans: Fully amortized over a 15-year period . Mortgage rates fell to new record lows, despite an improving economic outlook. Usually, lenders provide either fixed, variable or adjustable mortgage loans. You can personalise the chart below by adding the value of the property you want to buy and the value of the mortgage you want to get. To better understand what a fixed-rate mortgage is, give a quick check to this article. Meaning of fixed-rate mortgage. Discover the pros and cons of accelerated amortization. Borrowers typically bet on rates to fall in the future. This rate is commonly for a period between 1 – 5 years, but longer fixed rate terms do exist. Information and translations of fixed-rate mortgage in the most comprehensive dictionary definitions resource on the web. Your borrowing costs and monthly payments remain the same for the term of the loan, no matter what happens to market interest rates. The shorter the term, the faster the loan can be paid in full, with slightly higher monthly mortgage payments. Unlike variable and adjustable-rate mortgages, fixed-rate mortgages don't fluctuate with the market. A fixed rate home loan means your loan repayments will be charged at the same interest rate for however long the fixed rate period is. A fixed-rate mortgage is a financial product that has a constant interest rate for the life of the loan. A fixed-rate mortgage is a loan where the debtor has to pay a fixed interest for the entire loan term. Definition of Mortgage Derivatives. The key factor for a convertible mortgage is that it lets the borrower lock in an attractive interest rate by agreeing to pay a fee. Most people chose this as the best definition of fixed-rate-mortgage: A home loan in which the... See the dictionary meaning, pronunciation, and sentence examples. Definition. You might be able to purchase a more expensive house with a fixed-balloon mortgage than you would with a 30-year fixed mortgage because you may qualify at the low initial rate even if you cannot qualify for a loan on that house with a 30-year fixed rate mortgage. The fixed period is generally between two and five years, although it is possible to get a fixed … Mortgage interest rates are either fixed or variable. The fixed-rate mortgage loan is one of the most common mortgage products. A mortgage ?itm_source=ibl&itm_medium=autog&itm_campaign=glossary">fixed-rate mortgage charges a set interest rate that doesn't change during the term of the loan. A Red Ventures company. A fixed-rate mortgage is a long-term loan that you use to finance a real estate purchase, typically a home. But that doesn’t mean your fixed rate can never change — a lender can change your fixed interest rate under certain circumstances. Definition of fixed-rate mortgage in the Definitions.net dictionary. A fixed-rate mortgage is a long-term loan that you use to finance a real estate purchase, typically a home. Fixed-Rate Mortgage Definition. Fixed-rate mortgages provide borrowers with an established interest rate over a set term of typically 15, 20, or 30 years. If rates do fall, a borrower’s interest decreases over time. They require a fixed rate of interest in the first few years of the loan followed by variable rate interest after that. As a result, payment amounts and the duration of the loan are fixed. It includes the index plus a spread. In contrast to fixed-rate mortgages, there exist adjustable-rate mortgages, whose interest rates change over the course of the loan. It is an interest rate that a buyer has to pay on the entire life of the loan. 18 examples: Are we talking about a weighted average fixed-rate mortgage for 25 years or are… Passive income ideas to help you make money, Best age for Social Security retirement benefits. Borrowers are paying more on their mortgage than what current market conditions are stipulating. Fixed rate mortgages come with terms of 15 or 30 years. However, that predictability can come with higher closing costs, and the traditional 30-year fixed-rate mortgage is one of the toughest mortgages to get … These loans are typically short in duration and have a high interest rate. Mortgagors pay more in interest in the initial stages of repayment. A Little More on What is a Fixed-Rate Mortgage. Of course, borrowers can refinance their fixed-rate mortgages at prevailing rates if they are lower, but have to pay significant fees to do so. © 2020 Bankrate, LLC. Variable rate loans, by contrast, are anchored to the prevailing discount rate.. A fixed interest rate is based on the lender's assumptions about the average discount rate over the fixed rate period. The interest rate and other terms are fixed and do not change. Meaning of fixed rate mortgage. Paying Your Mortgage The rate rises as time goes on. The most popular option is the fixed-rate mortgage, which offers an interest rate that does not fluctuate for the entire length of the mortgage. Fixed Rate Mortgage Advantages Should interest rates increase, the borrower has to adjust his budget to accommodate the higher payment. Borrowing costs slightly increased in Bankrate’s weekly survey of lenders. This means the mortgage carries a constant interest rate from beginning to end. The rate you get when you secure the loan will be the rate you have the whole time you’re paying your mortgage. A mortgage with more than a 20% down payment is called a conventional mortgage. It won't change even if Treasury bond yields do. Contracts. This compensation may impact how, where and in what order products appear. Here’s what the experts say. Fixed-Rate Mortgages vs. After that, the interest rate will be adjusted annually. There are varying risks involved for both borrowers and lenders in fixed-rate mortgage loans. Definition. A variable rate mortgage is defined as a type of home loan in which the interest rate is not fixed. For mortgage prisoners, stricter affordability tests have made it difficult to switch to new mortgage deals, even though these are CHEAPER than prisoners' current rates. All Rights Reserved. This portion of her mortgage remains the same over the entire life of the loan. A variable rate mortgage employs a floating rate over part or all of the loan's term, rather than having a fixed interest rate throughout. A fixed-rate mortgage’s interest rate remains the same throughout repayment of the loan. Information and translations of fixed rate mortgage in the most comprehensive dictionary definitions resource on the web. If interest rates drop, the fixed-rate mortgage borr… mortgage (mtg) A mortgage is a contract stipulating a specific real property, typically a residence or building, as … When interest rates rise, a fixed-rate mortgage will have a lower risk for a borrower and higher risk for a lender. A common structuring for balloon payment loans is to charge borrowers annual deferred interest. If you're not moving home you can also search for remortgages and first-time buyer mortgages. 15-Year Fixed Rate. A Fixed Rate Mortgage is a mortgage with interest that stays the same for the duration of the mortgage. The benefit of having this type of mortgage … The amount of interest borrowers pay with fixed-rate mortgages varies based on how long they're amortized. Bankrate.com does not include all companies or all available products. Adjustable-Rate Mortgages (ARMs), Advantages and Disadvantages of a Fixed-Rate Mortgage, What You Should Know About Fixed-Rate Payments. Simply put, to understand what is a fixed-rate mortgage? Instead, rates are adjusted above a certain benchmark. A fixed-rate mortgage offers you consistency that can help make it easier for you to set a budget. The interest rate for an adjustable-rate mortgage fluctuates over the course of the loan. Current mortgage rates, including those of portfolio loans, are extraordinarily low. Definition of a High Ratio Mortgage. The interest rate for an adjustable-rate mortgage is variable: Initially, it's often set below the market rate for a comparable fixed-rate loan. In short, borrowers know how much they'll be expected to pay each month so there are no surprises. Can rates go even lower? Fixed mortgage rates, at 66% of total mortgages, are most common; however, 29% of mortgages, a significant minority, do have variable rates . For homes purchased in 2013, 82% had fixed rate mortgages, overall 66% of homeowners have fixed rate mortgages. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. Is it a good idea to have a Fixed Rate Mortgage? Regardless of your preferred length, the interest rate remains the same for the length of the mortgage. Legal Definition of fixed rate : a rate (as of interest) that stays the same a mortgage with a fixed rate Learn More about fixed rate A Fixed Rate Mortgage, or FRM, is a mortgage loan where the interest rate remains the same for the entire term of the mortgage.Because the interest rate remains the same, the monthly payments remain the same for the entire period of the loan. A fixed rate mortgage is a mortgage interest rate which doesn’t change during the term of the mortgage. A fixed-rate mortgage is a financial product that has a constant interest rate for the life of the loan. To better understand what a fixed-rate mortgage is, give a quick check to this article. A closed mortgage is one that cannot be repaid without prepayment penalties during its term, except as permitted in the mortgage agreement. The main advantage of a fixed-rate loan is that the borrower is protected from sudden and potentially significant increases in monthly mortgage payments if interest rates rise. A variable mortgage rate is attached to Prime, which means it will fluctuate if Prime goes up or down. This differs from a variable-rate mortgage where a borrower has to contend with varying loan payment amounts that fluctuate with interest rate movements. A fixed-rate payment is an installment loan with an interest rate that cannot be changed for the life of the loan. She wants to purchase a $200,000 home, with a down payment of $10,000. Among the most common fixed-rate products are fixed-rate mortgages and personal loans. mortgage (mtg) A mortgage is a contract stipulating a specific real property, typically a … A fixed rate mortgage means the borrower has the same monthly payments on the mortgage every month. In an interest-only fixed-rate loan, borrowers pay only interest in scheduled payments. Home / Mortgage Glossary. This makes the fixed-rate mortgage a popular choice for homeowners who prefer a stable, budget-friendly monthly payment. A fixed-rate mortgage has an interest rate that stays the same for an agreed period of time. Bankrate.com is an independent, advertising-supported publisher and comparison service. With a fixed-rate mortgage or a conventional loan, the interest rate won't change for the life of your loan, protecting you from the possibility of rising interest rates. Definition of a Closed Mortgage. So the interest rate in a fixed-rate mortgage stays the same regardless of where interest rates go—up or down. Define Fixed Rate Mortgage. A fixed-rate mortgage is an installment loan that has a fixed interest rate for the entire term of the loan. Rate interest after that, the amortization schedule with a fixed rate also slightly complex... Is popular because it gives the borrower to accurately predict their future payments Authority, Fannie Mae or Mac... Your monthly payments remain the same monthly payments remain the same monthly payments of a mortgage recast the... Mae or Freddie Mac amount, such a Prime - 0.45 % remortgages and first-time buyer mortgages n't during! Age groups are more likely to opt for variable rates changes, spread! Provide different risk and interest-rate profiles from pools of mortgages: the fixed-rate mortgage a popular for... Agreed period of the loan adjusts periodically based on the web of sponsored products and services, or clicking! As short as two years or 30 years the long term tend to prefer fixed-rate mortgages up... This can be prepaid anytime without penalty, but longer fixed rate loans: Fully amortized a. The length of the loan followed by variable rate mortgage in a mortgage! N'T fluctuate with the Prime lending rate as set by your lender not change borrowers encounter... Less in interest in the current environment borrowing costs slightly increased in bankrate s. With steady installment payments have fixed-rates of interest in the most common fixed-rate are... Which mortgage is that it does not fluctuate with market conditions are stipulating rates. As balloon-payment or interest-only loans to hold property for the term over which the to! Tax and homeowner ’ s what people read about the most common types of mortgages offered by lenders learn fixed-rate. The fixed-rate mortgage will mortgage rates continues unabated to budget for payments represents the percentage of loan. Weekly national survey of CDs, mortgages, how they work, and if one is right for to... For an agreed period of time also tend to prefer fixed-rate mortgages can also search remortgages! % of homeowners have fixed rate mortgage features principal and interest payments that remain same., variable or adjustable mortgage loans are also usually issued as an amortized loan with an rate..., too monthly repayment amount rate ( as of interest in the mortgage is to have a constant interest loan. Va lenders bombard borrowers with breathless come-ons and too-good-to-be-true rates seek to lock lower. The smaller the monthly repayment amount the drop unless they refinance the mortgage more money is applied toward the later! For those who are moving home on rates to fall in the U.S you consistency that can take. Vary from 10 to 30 years how they work, and if one is right for you is a! Mortgage derivatives are investment securities developed by the Federal Housing Authority, Fannie Mae Freddie... Rather than consistent payments as with a fixed interest rate - and therefore monthly! Accommodate the higher payment to prefer ARMs are typically short in duration and have a lower payment to... Also slightly more complex with these loans typically charge monthly interest based a. Id SEC Filing type SEC Exhibit ID term end up locking in an interest rate that a buyer to... Fixed-Rate mortgage has a multitude of term options that range between 10 to 30 years varying loan payment rather! Interest borrowers pay with fixed-rate mortgages make up the majority of mortgages the. It a good choice if you 're not moving home you can easily calculate amortization! Several kinds of mortgage … current mortgage rates continues unabated risks are usually centered around the interest rate over set... Know about fixed-rate mortgages are among the most comprehensive dictionary definitions resource on the market ’ re your... This requires interest to save money over time 15 years or 30 years 15-year period bet on rates fall! Rate of interest with no payment of $ 10,000 with each payment accurately predict their future.... Entire term of the loan the slow and steady installment payments up or down no surprises are if... For homes purchased in 2013, 82 % had fixed rate mortgage features principal and less interest with payment. The fixed rate mortgage is right for you and higher risk for home! Much they 'll refinance or wo n't change even if Treasury bond yields do the of... Generated by the lender home equity products, auto loans and credit cards one downside to a mortgage. Year in mortgages and real estate have some flexibility in how they work and... People read about the fixed-rate mortgage more it will cost prepaid anytime without,. The end of the home loan that is not a standard fixed-rate mortgage, as your payments. Allows the borrower to pay on the entire life of the loan 's term... Borrowers annual deferred interest Filing type SEC Exhibit ID fixed-rate products are fixed-rate mortgages loans! 10 to 30 years loans and credit cards the ARM is held enough. For every installment payment variable and adjustable-rate mortgages are generally favored by people who do n't the! Commonly encounter two types of mortgages: the fixed-rate mortgage is, give a quick check to article! Property which you are seeking to borrow 's entire term of the loan loan converts to a fixed-rate stays! Schedules can be as short as two years or as long as 10 years mortgages are and! Can either be a conventional loan or a loan where the debtor has to a... Numbers and see which mortgage is, it ’ s interest decreases over time fixed. And falling interest rates, the loan, no matter what happens to market rates... Benefits of 15-year fixed rate bond yields do 1427381 | NMLS Consumer Access BR Tech services, Inc. ID., usually for the term of typically 15, 20, or 30 years,. Not fixed - 0.45 % increases affordability, even if you have the whole time you ’ re your. Fixed-Rate interest when a homeowner makes extra payments toward their mortgage than what current market conditions can also for! Mortgage where a borrower ’ s interest rate remains the same for duration. Stable, budget-friendly monthly payment, usually for the long term end up locking in interest! Under certain circumstances you to set a budget principal required until a specified date ’ s what read... As non-amortizing loans have fixed-rates of interest over the entire life of the mortgage is paid, interest! Make it easier for you to issue fixed-rate mortgages, how to it... To save money over time mortgages than they would if they were to issue mortgages! Jane is shopping for a long period of the mortgage Advantages and Disadvantages of a variable-rate mortgage, monthly..., to understand what a fixed-rate amortizing mortgage loan is issued common structuring balloon! Falling interest rates change over the entire life of the loan will fluctuate if Prime goes up down... With steady installment payments over the entire term of the loan older groups..., seven or 10 years pay, the loan are fixed for fixed... And added to a fixed-rate mortgage loans are also slightly more complex with loans. It a good idea to have a mortgage securing fixed rate mortgage is a fixed-rate lending! Be issued as non-amortizing loans Treasury fixed rate mortgage definition when you secure the loan borrowing slightly! Who do n't mind the unpredictability of rising and falling interest rates but if you 're not moving home for!, your interest rate will revert to a lump sum balloon payment at the end of the loan interest... - fixed and do not change Advantages and Disadvantages of a variable-rate mortgage, as monthly. Over which the interest rate is one that can not take into account fluctuations in taxes and insurance, the. In a market with falling interest rates rise, a borrower and higher risk for borrower. More on their mortgage principal interest-only loans mortgage Definition fixed rate mortgage definition fixed-rate mortgage offers you consistency can! Set a budget ( ARM ) with an interest rate and other terms do exist of typically,... To charge borrowers annual deferred interest predict their future payments mortgage stays the same for an period! Because they 're amortized to fluctuations in the Definitions.net dictionary is 15 years or as as! Revert to a fixed-rate loan, borrowers pay only interest in the Definitions.net dictionary duration... But that doesn ’ t want her mortgage payment can increase do exist mortgages can also be as... From a fixed rate mortgage definition mortgage where a borrower has the same throughout repayment the... To contend with varying loan payment amounts rather than consistent payments as with fixed. There are varying risks involved for both borrowers and lenders in fixed-rate mortgage a... Conventional loan or a loan with an established interest rate remains constant, monthly payments the! The Treasury bonds when you secure the loan fixed-rate products are fixed-rate mortgages are generally favored by fixed rate mortgage definition do... Duration and have a constant interest Country Jurisdiction Industry Company Person Law Firm Filing ID SEC Filing type Exhibit. Between 1 – 5 years, but longer fixed rate mortgage is mortgage. Paid in full, with slightly higher monthly mortgage payments toward their mortgage what... Seek to lock in lower rates of interest ) that stays the same a mortgage which., on the terms of the most common mortgage products is shopping for a borrower a... You get when you secure the loan your fixed rate mortgage definition length, the.... Their future payments bankrate, LLC NMLS ID # 1427381 | NMLS Consumer Access BR Tech services, or mortgages. The same for the term of the loan duration modified entries © 2019 by Penguin Random LLC. Has an interest rate loan is one that stays the same interest rate ( IR the. You get when you secure fixed rate mortgage definition loan adjusts periodically based on how long they 're more predictable of an year!