ADJUSTABLE RATE MORTGAGE (ARM)
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Definitions of ADJUSTABLE RATE MORTGAGE (ARM)
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A mortgage loan with an interest rate that fluctuates in accordance with a designated market indicator -- such as the weekly average of one-year U.S. Treasury Bills -- over the life of the loan. To avoid constant and drastic fluctuations, ARMs typically limit how often and by how much the interest rate can vary.
By Oddity Software
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A real estate loan whose interest rate is adjusted periodically to accomodate market rates. A limit is set as to how high or low it can be changed and how frequently. It starts with low interest and can change to attract buyers. AKA variable rate mortgage
By Henry Campbell Black
Word of the day
Dopamine Acetyltransferase
- An enzyme that catalyzes the of groups from acetyl-CoA to arylamines. They have wide specificity for aromatic amines, particularly serotonin, and can also catalyze acetyl transfer between arylamines without CoA. EC 2.3.1.5.