adjustable-rate mortgage. The American Heritage® Dictionary of the English Language: Fourth Edition. 2000.

The American Heritage^® Dictionary of the English Language: Fourth Edition. 2000.

adjustable-rate mortgage

SYLLABICATION:	ad·just·a·ble-rate mortgage
PRONUNCIATION:	-jst-bl-rt
NOUN:	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.


The American Heritage^® Dictionary of the English Language, Fourth Edition. Copyright © 2000 by Houghton Mifflin Company. Published by the Houghton Mifflin Company. All rights reserved.