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variable-rate mortgage

   Also found in: Financial, Encyclopedia, Wikipedia 0.01 sec.
var·i·a·ble-rate mortgage (vâr--bl-rt, vr-)
n. Abbr. VRM


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When making a decision about whether to go with a variable-rate mortgage the risk comes into play when thinking about the fact that mortgage rates could go up a lot if, for example, Prime was to go up in percentage points.
[ILLUSTRATION OMITTED] He also urged the FTC not to favor certain types of loans over others and not to ban certain kinds of variable-rate mortgage loans but suggested that the agency ban loans with negative amortization features.
Mike Thomas bought his first home in February and plumped for a variable-rate mortgage.
 
 
 
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