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adjustable rate mortgage

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ad⋅just⋅a⋅ble-rate mort⋅gage

[uh-juhs-tuh-buhl-reyt]
–noun
a mortgage that provides for periodic changes in the interest rate, based on changing market condtions. Abbreviation: ARM
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Based on the Random House Dictionary, © Random House, Inc. 2009.
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Legal Dictionary

Main Entry: adjustable rate mortgage
see MORTGAGE
Merriam-Webster's Dictionary of Law, © 1996 Merriam-Webster, Inc.
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