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Adjustable rate |
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Adjustable rate Applies mainly to convertible securities. Refers to interest rate or dividend that is adjusted periodically, usually according to a standard market rate outside the control of the bank or savings institution, such as that prevailing on Treasury bonds or notes. Typically, such issues have a set floor or ceiling, called caps and collars that limits the adjustment. |
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? Mentioned in | ? References in periodicals archive | |
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More customers opted for adjustable rate loans in the quarter
compared with a year ago, with fundings rising 42 percent to $23
billion. The nation's biggest residential lenders have pared back or
stopped offering some kinds of adjustable rate mortgages amid concern
the Federal Housing Administration's funds for insuring these loans
will soon dry up. -- Adjustable rate mortgages
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Adjustable rate