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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.
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ARMCHAIR 1-3 YEARS BEAN BAG: Made from a high rub count durable fabric, this bean bag armchair comes in a range of colours.
He said passage of the bill into law would make it an obligation for all educational institutions, both public and private, to provide "appropriate" armchairs to left-handed students.
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Armchair had the run of the game overall with goals from Dave White (2), Craig Horton and Liam Jameson - not bad for a team that hadn't played for 10 weeks - but it was all to no avail.
This "Cube' armchair is an elegant expression of solidity and simplicity.
Nothing is straightforward to the armchair analyst.
I keep hearing about armchair football fans but have never seen a game of armchair football in my life.
The Armchair Traveller series will cover the history of a set destination in the same vein as the Life & Times series.
Last week I made the defence for the much-maligned armchair fan.