释义 |
`1`adjustable rate mortgage (ARM) `2` "Nolo Everybody's Legal Dictionary":
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.
See Topic: Debt & Bankruptcy Real Estate |