The mortgage interest rate is equivalent to 5%. The interest rate of mortgage is different according to its loan life, and the interest rate of loan is also different.

The interest rate of mortgage generally refers to the annual interest rate, and the percentage refers to the monthly interest rate. Based on the five-year mortgage interest rate of 6%, the annual interest rate is 6%, and the monthly interest rate is 6%/ 12=0.5%, which is what people often say.