TEASER RATE Definition

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TEASER RATE, in lending, is the initial rate set on adjustable-rate mortgages (ARMs) by the lender to attract prospective borrowers. It is the coupon rate an investor earns in the first year.

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GOING RATE is an expression that means the cost of the average of suppliers of like products or services. The connotation is that the cost will be "no more expensive than the competition."

REQUISITION is a written request to buy something. Usually, once approved, the requisition is then transformed into a purchase order.

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