TWO TYPES OF INTEREST RATES IN MORTGAGE LOAN An individual who wishes to take a loan against property can choose between two types of interest rates. These interest rates vary according to the duration of the loan. FIXED INTEREST RATE MORTGAGE LOAN : duration 5 to 10 years , This interest rate remains fixed throughout the loan duration. It varies from institution to institution but the general rate . ADJUSTABLE RATE MORTGAGE LOAN : duration 10 to 15 years , This interest rate is not fixed and static, it varies according to prevailing market conditions.