adjustable-rate mortgage

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ad·just·a·ble-rate mortgage

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.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

adjust′able-rate` mort′gage

a mortgage that provides for a periodic adjustment of the interest rate based on current market conditions. Abbr.: ARM
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
References in periodicals archive ?
5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.35 percent with an average 0.3 point, down from last week when it averaged 3.36 percent.
A self-managed real estate investment trust, or REIT based in Dallas, Texas, Capstead earns income from investing in a leveraged portfolio of residential adjustable-rate mortgage pass-through securities, referred to as ARM securities, issued and guaranteed by government-sponsored enterprises, either Fannie Mae or Freddie Mac, or by an agency of the federal government, Ginnie Mae.
jumbo adjustable-rate mortgage [ARM]) while leaving their five-year
Adjustable-Rate Mortgage Calculator helps homeowners determine which type of loan will be more beneficial for them.
The refinance share of mortgage activity held steady at 79.1 percent, while the adjustable-rate mortgage share of activity fell to 6 percent from 6.4 percent the prior week.
The average contract rate for purchase mortgages on existing homes by combined lenders, which the FHFA noted is used as an index in some adjustable-rate mortgage (ARM) contracts, slipped 8 bps to 4.91%.
She was drowning in bills; specifically, her adjustable-rate mortgage seemed to take more and more money out of her pocket every month.
Late last week, President Bush announced an agreement among the major mortgage financial institutions that will lead to relief for thousands of homeowners facing foreclosure due to rising interest rates on subprime adjustable-rate mortgage loans.
Samuel Williams and wife, Toni, a district manager at Target, chose a two-year adjustable-rate mortgage over a fixed-rate mortgage when they decided to build a five-bedroom, two-story home in San Antonio.
Thus, there must be a sizeable initial interest rate advantage, along with some protection against future rate increases, to attract sizeable proportions of buyers into adjustable-rate mortgage loans.
The falling dollar is a reminder that the suburbs of America are mined with an explosive threat to the Bush Administration: the adjustable-rate mortgage (ARM).