ad·just·a·ble-rate mortgage (ə-jŭstʹə-bəl-rātʹ) n. Abbr. ARM
A mortgage whose interest rate is raised or lowered at periodic intervals according to the prevailing interest rates in the market. Also called variable-rate mortgage.

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Universalium. 2010.

Look at other dictionaries:

  • variable-ratemortgage — var·i·a·ble rate mortgage (vârʹē ə bəl rātʹ, vărʹ ) n. Abbr. VRM See adjustable rate mortgage. * * * …   Universalium

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