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adjustable-rate mortgage

   Also found in: Medical, Legal, Financial, Encyclopedia, Wikipedia 0.01 sec.
ad·just·a·ble-rate mortgage (-jst-bl-rt)
n. Abbr. ARM
A mortgage whose interest rate is raised or lowered at periodic intervals according to the prevailing interest rates in the market. Also called variable-rate mortgage.


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18 percent of Thornburg's adjustable-rate mortgage portfolio was high quality, of which 15 percent represented purchased adjustable-rate mortgage assets rated AAA or AA, and the rest comprised high-quality adjustable-rate mortgage loans.
Refinancing your adjustable-rate mortgage to a fixed-rate mortgage might be the way to go for you.
As you can see there are many pros and cons to adjustable-rate mortgages.
 
 
 
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