Adjustable Rate Mortgage (arm)

Adjudication Reading Adjustable Rate Mortgage (arm) 1 minute Next Adjusted Basis

Definition:  A mortgage that typically has a lower rate than a fixed rate mortgage to start, but can be adjusted periodically by the lender.

Pronunciation: \ə-ˈjəs-tə-bəl, mȯr-gij

Used in a Sentence:   The buyer chose an adjustable rate mortgage to get a lower rate.

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