adjustable rate mortgage

A mortgage in which the lender can periodically adjust the mortgage’s interest rate in accordance with fluctuations in some external market index. — Abbr. ARM.

— Also termed variable-rate mortgage; flexible-rate mortgage.

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词条贡献者

法律翻译徐玲，知名法学院保险法专业，专注翻译各类与保险追偿有关的法律文件。