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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 ?
Bright and early the following morning, I'd go back to the roundhouse and put an armful of wood in the engine, dump some oil and oil-saturated waste on the wood and light this mess.
In preliminary tests, and Allen stuck their needle patch into an armful of volunteers.
And what about the girl, her hat gone, her bread finished, holding an armful of tulips in the rain?
It is not much of a climax, for Bussell is too much of an armful for Mukhamedov to handle.
A passing protest came from a wardrobe assistant with an armful of boots who found the omnipresent firedoors with their push-button security systems hindering rather than facilitating a journey f rom workshop to wardrobe.
Pulling an armful of fir boughs across my body, I huddled down and waited as it passed by.
ECHO!" Like a voice from the past He brought memories back Of wet cobbled streets All shiny and black A patch on my britches No boots on my feet And an armful of papers To sell down our street The clang of the tramcars Down on the road Clip, clop of the carthorses Pulling their load A man with a long pole Lights the street lamp You almost can smell The fog and the damp Someone selling firewood It's wet but who'll buy "Put it in the oven luv.
Azenberg was one of Broadway's most successful and respected producers, with plays by Neil Simon and Tom Stoppard to his credit and an armful of Tony Awards.
rush me armful our but I the JANE Officers also retrieved her engagement ring in time for the party - but another PS10,000 of jewellery remains missing.
| MORE THAN AN ARMFUL: Paula Pickersgill with trophy for her blood donations
These people are then 'bused' to a freeway and dropped off in pairs at 100-yard intervals with an armful of litter bags which they have to fill.