Dictionary
adjustable rate mortgage
noun
Definition of ADJUSTABLE RATE MORTGAGE
: 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
ADVERTISEMENT
First Known Use of ADJUSTABLE RATE MORTGAGE
1981
Browse
Next Word in the Dictionary: adjustable spannerPrevious Word in the Dictionary: adjustable–pitchAll Words Near: adjustable rate mortgage
ADVERTISEMENT
Seen & Heard
What made you want to look up adjustable rate mortgage? Please tell us where you read or heard it (including the quote, if possible).