adjustable-rate mortgage

American  

[uh-juhs-tuh-buhl-reyt] / əˈdʒʌs tə bəlˌreɪt /

noun

1. a mortgage that provides for periodic changes in the interest rate, based on changing market condtions. ARM

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Example Sentences

That meant parting ways with that ultralow mortgage rate and taking on a seven-year adjustable-rate mortgage at 6.3% to buy a single-family home set on two acres.

From MarketWatch

A bank, on the other hand, will likely make you choose between, say, a 15-year fixed-rate mortgage or a 30-year one, or an adjustable-rate mortgage.

From MarketWatch

If you’ve got an adjustable-rate mortgage, refinance it.

From MarketWatch

My interest rate is 4%, but could change in five years as it is a variable adjustable-rate mortgage.

From MarketWatch

“The price was absurd, and they were giving her a no money down option adjustable-rate mortgage,” says Eisman, who talked her into taking out a conventional fixed-rate mortgage.

From Literature