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adjustable-rate mortgage

[uh-juhs-tuh-buh l-reyt] /əˈdʒʌs tə bəlˌreɪt/
noun
1.
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. 2014.
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