adjustable-rate mortgage

[ uh-juhs-tuh-buhl-reyt ]

noun

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

Example Sentences

The elder Ms. Alcin had menial agricultural jobs — work that, at the age of 67, has become more difficult to do, even as she tries to make higher payments on her home’s adjustable-rate mortgage.

From New York Times

But Clark had watched her mother, during the subprime-mortgage boom, be lured into homeownership by a “teaser” mortgage rate, only to lose her home to foreclosure when that adjustable-rate mortgage ballooned and she could no longer afford the payments.

From New York Times

Many buyers are therefore making new calculations, including whether it’s worth paying upfront fees in exchange for a lower rate, or if an adjustable-rate mortgage is worth the risk.

From Seattle Times

The 5-year Treasury indexed hybrid adjustable-rate mortgage averaged 4.97% in the latest survey up from 4.93% last week and 2.43% last week.

From Reuters

The average for the five-year adjustable-rate mortgage decreased to 4.19 percent from 4.50 percent with an average 0.4 point.

From Washington Post