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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 ?
They left the arena with armfuls of the streamers fired at the finale, which I attempted to convince them was a better souvenir than any of the official merchandise!
Queuing at the check-outs with an armful of Madonna items, Magda Grabowik, 32, from Balham in London, said: "I have bought the white coat, leather jacket and dresses.
It is thought a woman shoplifter grabbed armfuls of goods from the shelves before fleeing.
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The award-winning chain of small shops have scooped armfuls of awards in recent years, including Best Small Butcher's Shop in Britain and Best Butcher's Shop in Scotland.
West Midlands Police has now released 32 CCTV images, some showing suspects with armfuls of clothes as shops were targeted across the area.
And that means trips to Brazil to buy up rolls of material and armfuls of feathers, beads and crystals.
Me: Walkman the size of a brick Josie: iPod Nano Me: On the Walkman, "Don't Stop Believin'," by Journey Josie: On the iPod, "Don't Stop Believin'," by the cast of Glee Me: Flowers in the Attic (Goth-y vaguely Victorian trashy lit) Josie: A Series of Unfortunate Events (Goth-y vaguely Victorian decent lit) Me: Asthma inhaler Josie: Asthma inhaler Me: Bug repellent with enough chemicals to defoliate a small island Josie: Hippie herbal insect repellent with organic catnip oil, organic rosemary, and organic lemongrass Me: Shabbat outfits consisting of flowered Gunne Sax dresses Josie: Shabbat outfits consisting of flowered Hanna Andersson dresses Me: armfuls of rubber Madonna "Goomie" bracelets Josie: armfuls of silicone Silly Bandz (modeled by Maxie because Josie is away at camp)
A VETERAN thief caught on CCTV stealing armfuls of breakfast grub will not have to do porridge.
He said: "This is to stop 'eBaying' and people grabbing armfuls of things to put online.
SEXY singer Beyonce has won armfuls of Grammys and Brits, but no doubt she is delighted at the latest accolade to come her way.
Don't forget to plant dahlias tubers and gladioli corms too - they are even easier to grow and will provide you with armfuls of flowers in late summer.