adjustable-rate mortgage - Dictionary definition and pronunciation - Yahoo! Education

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Definition of adjustable-rate mortgage

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< adjust

adjusted >

ad·just·a·ble-rate mortgage (

-j

-b

l-r

) KEY

NOUN:
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.

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