Adjustable Rate Mortgages Financial Glossary

What is it? Mortgage loans under which the interest rate is periodically adjusted to more closely coincide with current rates. The amounts and times of adjustment are agreed to at the inception of the loan.

Finance Term Definition Added By: Nevaeh

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Other Similar Finance Terms:

Financial Term Adjustable Rate Mortgage is Mortgage in which the rate of interest is adjusted based on a standard rate index. Most Adjustable Rate Mortgages have caps on how much the interest rate may increase.

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