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An adjustable-rate mortgage, or ARM, is a home loan that has an initial, low fixed-rate period of several years. After that, for the remainder of the loan term, the interest rate resets at regular ...
A variable-rate mortgage, adjustable-rate mortgage (ARM), or tracker mortgage is a mortgage loan with the interest rate on the note periodically adjusted based on an index which reflects the cost to the lender of borrowing on the credit markets. [1] The loan may be offered at the lender's standard variable rate/base rate. There may be a direct ...
An adjustable-rate mortgage (ARM) is a mortgage whose interest rate resets at periodic intervals. ARMs have low fixed interest rates at their onset, but often become more costly after the rate ...
The interest-only adjustable-rate mortgage (ARM) allowed the homeowner to pay only the interest (not principal) of the mortgage during an initial "teaser" period. Even looser was the "payment option" loan, in which the homeowner has the option to make monthly payments that do not even cover the interest for the first two- or three-year initial ...
Demand has tripled for adjustable-rate mortgages as Americans grapple with surging costs for home loans with rates fixed for 30 years.
The mortgage market is estimated at $12 trillion [31] with approximately 6.41% of loans delinquent and 2.75% of loans in foreclosure as of August 2008. [32] The estimated value of subprime adjustable-rate mortgages (ARM) resetting at higher interest rates is U.S. $400 billion for 2007 and $500 billion for 2008.
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