Difference between revisions of "Adjustable rate mortgage"
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| − | [[Adjustable rate mortgage]] [[ | + | [[Adjustable rate mortgage]] ([[ARM]]) is a loan used to purchase a home in which the interest rate varies with the rate of inflation. |
==Definition== | ==Definition== | ||
According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | According to [[Principles of Economics by Timothy Taylor (3rd edition)]], | ||
| − | :[[Adjustable rate mortgage]] [[ | + | :[[Adjustable rate mortgage]] ([[ARM]]). A loan used to purchase a home in which the interest rate varies with the rate of inflation. |
[[Category: Economics]][[Category: Articles]] | [[Category: Economics]][[Category: Articles]] | ||
Latest revision as of 03:46, 31 May 2020
Adjustable rate mortgage (ARM) is a loan used to purchase a home in which the interest rate varies with the rate of inflation.
Definition
According to Principles of Economics by Timothy Taylor (3rd edition),
- Adjustable rate mortgage (ARM). A loan used to purchase a home in which the interest rate varies with the rate of inflation.
