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Copyright © 2012, Campbell R. Harvey. All Rights Reserved.


GOST 7.67 Latin three-letter geocode for Armenia. The code is used for transactions to and from Armenian bank accounts and for international shipping to Armenia. As with all GOST 7.67 codes, it is used primarily in Cyrillic alphabets.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Adjustable rate mortgage (ARM).

An adjustable rate mortgage is a long-term loan you use to finance a real estate purchase, typically a home.

Unlike a fixed-rate mortgage, where the interest rate remains the same for the term of the loan, the interest rate on an ARM is adjusted, or changed, during its term.

The initial rate on an ARM is usually lower than the rate on a fixed-rate mortgage for the same term, which means it may be easier to qualify for an ARM. You take the risk, however, that interest rates may rise, increasing the cost of your mortgage. Of course, it's also possible that the rates may drop, decreasing your payments.

The rate adjustments, which are based on changes in one of the publicly reported indexes that reflect market rates, occur at preset times, usually once a year but sometimes less often. Typically, rate changes on ARMs are capped both annually and over the term of the loan, which helps protect you in the case of a rapid or sustained increase in market rates.

However, certain ARMs allow negative amortization, which means additional interest could accumulate on the outstanding balance if market rates rise higher than the cap. That interest would be due when the loan matured or if you want to prepay.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.


See adjustable-rate mortgage.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.


See Adjustable Rate Mortgage.

The Mortgage Encyclopedia. Copyright © 2004 by Jack Guttentag. Used with permission of The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Intel's major competition will be from ARM-based systems , but a 64-bit ARM chip based on the ARM Cortex isn't due until 2014.
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Earlier this week at the same investor meeting, Intel's Renee James said the upcoming version of Windows 8 running on ARM chips would not be able to run legacy apps.
She used the "legacy apps" pitch to claim that Intel will not be affected by Windows 8 for ARM chips as Intel purports that having a Windows 8 on x86 which also runs legacy apps, plays to Intel's advantage.
Windows 8 will run on devices with x86 chips from Intel and AMD, as well as on devices that use ARM chips. The ARM version of the OS is called Windows RT.
Marvell has single, dual, and quad-core ARM chips as part of its Armada family of applications processors.
A rumor which set the web sphere abuzz last week that Apple will replace Intel chips in its MacBooks and desktops with ARM chips has failed to garner many supporters.
designer of the ARM chips (that it licenses to hundreds of manufacturers), has apparently not yet embraced the smartbook term, at least publicly.<p>At a press conference at the Computex trade show in Taipei on Monday, ARM chief executive Warren East predicted that 20% of netbooks next year will ship with ARM chips inside.<p>Copyright 2009 IDG Middle East.
Windows RT machines are designed to run on ARM chips, as opposed to a more traditional X86 chip that will be used in Windows 8tablets said to be coming in the fourth quarter of 2012.
The three-year old startup Calxeda, based out of Austin, Texas, has announced its first ARM chips for ultra-low-power servers - EnergyCore ECX-1000.
The site says Apple will hold out until ARM chips can reach 64-bit capabilities, possibly coinciding with the release of Nvidia's Project Denver Chip, which uses the architecture.
In addition to processing Web transactions, ARM chips could power security-oriented tasks, like matching a snapshot of an individual at an airport to a database of hundreds of millions of people.