adjustable-rate mortgage

[uh-juhs-tuh-buhl-reyt]

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
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2012.
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