ADJUSTABLE RATE MORTGAGE (ARM)
\ɐd͡ʒˈʌstəbə͡l ɹˈe͡ɪt mˈɔːɡɪd͡ʒ ˌe͡ɪˌɑːɹˈɛm], \ɐdʒˈʌstəbəl ɹˈeɪt mˈɔːɡɪdʒ ˌeɪˌɑːɹˈɛm], \ɐ_dʒ_ˈʌ_s_t_ə_b_əl ɹ_ˈeɪ_t m_ˈɔː_ɡ_ɪ_dʒ__ ˌeɪ_ˌɑː_ɹ_ˈɛ_m]\
Definitions of ADJUSTABLE RATE MORTGAGE (ARM)
Sort: Oldest first
-
A mortgage loan with an interest rate that fluctuates in accordance with a designated market indicator -- such as the weekly average of one-year U.S. Treasury Bills -- over the life of the loan. To avoid constant and drastic fluctuations, ARMs typically limit how often and by how much the interest rate can vary.
By Oddity Software
-
A real estate loan whose interest rate is adjusted periodically to accomodate market rates. A limit is set as to how high or low it can be changed and how frequently. It starts with low interest and can change to attract buyers. AKA variable rate mortgage
By Henry Campbell Black
Word of the day
Weissbier
- a general name for beers made from wheat by top fermentation; usually very pale cloudy and effervescent