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An adjustable-rate mortgage — commonly called an ARM — is a type of home loan with a variable rate. Unlike a fixed-rate mortgage, which locks in an interest rate and predictable payments that ...
Adjustable-rate mortgage. An adjustable-rate mortgage, or ARM, is a home loan with an interest rate that fluctuates periodically. This means that the monthly payments can go up or down. Generally ...
An adjustable rate mortgage has an interest rate that changes at set intervals after a fixed-rate introductory period. Intro periods are most commonly three, five, seven or 10 years.
A variable-rate mortgage, adjustable-rate mortgage ( ARM ), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets. [1] The loan may be offered at the lender's standard variable rate/ base rate.
Adjustable interest rates. While adjustable-rate mortgages have been around for decades, from 2002 through 2005 adjustable-rate mortgages became more complicated as did the calculations involved. Lending became much more creative which complicated the calculations.
See today's average mortgage rates for a 30-year fixed mortgage, 15-year fixed, jumbo loans, refinance rates and more — including up-to-date rate news. Daily mortgage rates for July 2, 2024 ...
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