Meaning of variable-rate

var•i•a•ble-rate

Pronunciation: (vâr'ē-u-bul-rāt"), [key]
— adj.
  1. providing for changes in the interest rate, adjusted periodically in accordance with prevailing market conditions: a variable-rate mortgage.
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.