ADJUSTABLE RATE MORTGAGE


Meaning of ADJUSTABLE RATE MORTGAGE in English

Function: noun

Date: 1981

: a mortgage having an interest rate which is usually initially lower than that of a mortgage with a fixed rate but is adjusted periodically according to the cost of funds to the lender

Merriam Webster Collegiate English Dictionary.      Merriam Webster - Энциклопедический словарь английского языка.