fixed-period ARM — MBSs that are fixed rate instruments for an initial period and floating rate securities thereafter. The initial, fixed rate period may be 3, 5, 7, or 10 years. After the expiration of the fixed rate period, a typical fixed period ARM may adjust… … Financial and business terms
5-1 Hybrid Adjustable-Rate Mortgage - 5-1 Hybrid ARM — An adjustable rate mortgage (ARM) with an initial five year fixed interest rate. After this initial five year period, the interest rate begins to adjust on an annual basis according to an index plus a margin (or, the fully indexed interest rate) … Investment dictionary
Fixed rate mortgage — A fixed rate mortgage (FRM) is a mortgage loan where the interest rate on the note remains the same through the term of the loan, as opposed to loans where the interest rate may adjust or float. Other forms of mortgage loan include interest only… … Wikipedia
ARM 3/1,5/1,7/1 — Adjustable Rate mortgages fixed for a determined period of time. (Business) … Abbreviations dictionary
Secure Option ARM — A type of payment option adjustible rate mortgage with a fixed interest rate period. The mechanics of a secure option arm are very similar to a payment option arm except that it has a fixed interest rate period similar to fixed period or hybrid… … Investment dictionary
Hybrid ARM — An adjustable rate mortgage blends the characteristics of a fixed rate mortgage and an adjustable rate mortgage. This type of mortgage will have an initial fixed interest rate period followed by an adjustable rate… … Investment dictionary
5-6 Hybrid Adjustable-Rate Mortgage - 5-6 Hybrid ARM — An adjustable rate mortgage with an initial five year fixed interest rate after which the interest rate begins to adjust every six months according to an index plus a margin (or, the fully indexed interest rate). The index is variable while the… … Investment dictionary
Adjustable-Rate Mortgage - ARM — A type of mortgage in which the interest rate paid on the outstanding balance varies according to a specific benchmark. The initial interest rate is normally fixed for a period of time after which it is reset periodically, often every month. The… … Investment dictionary
Silurian Period — Interval of geologic time, 443–417 million years ago. The third period of the Paleozoic Era, the Silurian follows the Ordovician Period and precedes the Devonian. It marks the first appearance of land plants and jawed fishes. The continents were… … Universalium
Convertible ARM — An Adjustable Rate Mortgage (ARM) that gives the borrower the option to convert to a fixed rate mortgage. Convertible ARMs are marketed as a way to avoid rising interest rates and usually include specific conditions. The financial institution… … Investment dictionary
