> ## Documentation Index
> Fetch the complete documentation index at: https://docs.trusset.org/llms.txt
> Use this file to discover all available pages before exploring further.
# Get Rate Mode
> Read how the market prices borrowing and who can change it
Reads the market's interest model live from the chain. It returns the rate mode, the clamp or fixed rate, the fixed-rate ceiling, the jump-rate curve underneath, and the model's owner. The owner is the only party that can change the mode with [Set Rate Mode](/endpoints/lending/set-rate-mode) or tighten the ceiling with [Set Max Fixed Rate](/endpoints/lending/set-max-fixed-rate).
At adoption the model passes to the `issuer` the lender of record named. Ownership moves afterwards only by a two-step transfer, so `modelOwner` is the answer to read, not an assumption.
## Path Parameters
Market ID.
## Response Fields
The market's interest model, lowercased. Rate-mode transactions target this contract, not the market.
`CURVE`, `CLAMPED` or `FIXED`.
Lower bound of the clamp in `CLAMPED`, the fixed rate in `FIXED`, `0` in `CURVE`.
Upper bound of the clamp in `CLAMPED`, the fixed rate in `FIXED`, `0` in `CURVE`.
The rate a loan opened right now would be stamped with. `0` unless the mode is `FIXED`.
Whether new loans are stamped with a fixed rate.
Ceiling on any fixed rate the owner can set. It moves down only. `null` when no ceiling is recorded.
The factory's ceiling on the rates a market creator may deploy with. It binds new deployments only and places no limit on this model's owner. `null` when it could not be read.
Whether the market runs loan terms, through a maximum duration, a terminal due date, or both. `null` when the term configuration could not be read.
The wallet that owns the model and signs every rate-mode change. `null` when it could not be read.
`true` when an ownership transfer is waiting for the new owner to accept. Present only then.
The wallet that has to accept that transfer. Present only when `handoverPending` is.
The jump-rate curve, all in basis points. `null` when it could not be read.
Annual rate at zero utilization.
Slope below the kink.
Additional slope above the kink.
Utilization at which the jump slope starts.
## What Each Mode Charges
| `rateMode` | Variable-rate loans already open | New loans |
| ---------- | ------------------------------------------------------ | ----------------------------------------------------- |
| `CURVE` | The raw curve | Variable, on the raw curve |
| `CLAMPED` | The curve held between `rateFloorBps` and `rateCapBps` | Variable, on the clamped curve |
| `FIXED` | The raw curve, unclamped | Stamped with `fixedStampRateBps` for their whole life |
A clamp is a price bound, not a volume bound. Once the raw curve crosses `rateCapBps` the rate stays at the cap, and no borrow is ever refused because of it. Liquidity alone limits the borrow.
A loan stamped under `FIXED` keeps its rate through every later mode change. `FIXED` also needs a maximum loan duration: a market whose terms rest on a terminal due date alone reads `termsEnabled: true` and still cannot switch to it.
```bash cURL theme={null}
curl "https://api.trusset.org/lending-external-securities-v2/api/markets/{marketId}/rate-mode" \
-H "X-API-Key: trusset_your_key_here"
```
```typescript TypeScript theme={null}
const res = await fetch(
`https://api.trusset.org/lending-external-securities-v2/api/markets/${marketId}/rate-mode`,
{ headers: { 'X-API-Key': 'trusset_your_key_here' } }
);
const { data } = await res.json();
console.log(`${data.rateMode}, changed only by ${data.modelOwner}`);
```
```json Response theme={null}
{
"success": true,
"data": {
"interestModelAddress": "0x3b25752c1459c5cf1b0bfcfdf0d56883c8047423",
"rateMode": "CLAMPED",
"rateFloorBps": 300,
"rateCapBps": 1200,
"fixedStampRateBps": 0,
"maxFixedRateBps": 1500,
"creatorRateCeilingBps": 50000,
"stampsFixedRate": false,
"termsEnabled": true,
"modelOwner": "0x5ad87a0621175206b72d10e4b8577b192e7f40ab",
"curve": {
"baseRateBps": 200,
"multiplierBps": 1000,
"jumpMultiplierBps": 10000,
"kinkBps": 8000
}
}
}
```
```json Error - Model Unresolved theme={null}
{
"success": false,
"error": {
"code": "MODEL_UNRESOLVED",
"message": "The market interest rate model could not be resolved. Retry shortly."
}
}
```
## Error Codes
| Code | HTTP | Cause |
| ------------------- | ----- | ------------------------------------------------------------------------ |
| `MISSING_MARKET_ID` | `400` | The `marketId` path segment is longer than 100 characters |
| `MARKET_NOT_FOUND` | `404` | No market with this ID on your instance |
| `INTERNAL_ERROR` | `500` | A view on the interest model could not be read. Retry shortly |
| `MODEL_UNRESOLVED` | `503` | The market's interest model address could not be resolved. Retry shortly |