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Meaning of adjustable-rate mortgage

ad•just'a•ble-rate mort'gage

Pronunciation: (u-jus'tu-bul-rāt"), [key]
  1. a mortgage that provides for periodic changes in the interest rate, based on changing market condtions. Abbr.: ARM
Random House Unabridged Dictionary, Copyright © 1997, by Random House, Inc., on Infoplease.