Mortgage Dictionary
Select a term from the dropdown text box. The online mortgage
dictionary will display a definition, plus links to other
related web pages.
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ARM
With an ARM (also known as a
variable-rate mortgage and as an
adjustable-rate mortgage),
the interest rate and payments are adjusted
periodically, potentially as frequently as
every month. The purpose of the adjustment is to allow mortgage interest rates to
fluctuate with market conditions.