adjustable-rate mortgage

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

noun

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

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Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2021