Plain-English definitions for the terms you'll encounter on your financial journey.
A measurement of a bond's price sensitivity to changes in interest rates.
A measure of the relationship between bond prices and interest rates that accounts for how the duration changes as yields change.
A measure used to estimate how much a bond's price is likely to change if interest rates rise or fall.
An interest rate that remains constant for the entire duration of a loan or investment term.
A legal arrangement where a person has the right to use and live on a property for the duration of their life.