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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 ?
The decision was made to amputate the right brachium to reduce the risk of thromboembolic complication and to minimize the duration of recovery.
A circumferential skin incision was made 8 cm distal to the humeral head, and the subcutaneous tissues were dissected to expose the muscles of the brachium. The triceps scapularis and biceps brachii muscles were transected and evaluated for viability based on hemorrhage on incision.
Initially, digital palpation and auscultation of the brachium with a Doppler stethoscope suggested trauma that resulted in vascular disruption.
The BRA coursed superficially in the brachium inclining lateral-ward at about the level of the cubital fossa and eventually placed in the usual location travelled by the radial artery (Fig.
The BRA is a radial artery arising proximally above the elbow and they tend to form a second artery with the brachial artery in the brachium and usually are placed superficially in the arm and forearm, where they may be ligated inadvertently or involved in trauma leading to severe bleeding.
The median brachium was covered by prominent adhesive papillae (Fig.
pentagona, advanced larvae had a well-developed preoral lobe from which the central brachium emerged as a bulge-like protrusion (Fig.
Their brachiolariae are also similar in appearance, with a prominent preoral lobe and a central brachium that develops as a bulge-like protrusion (Komatsu et al., 1990).
Subsequently the gastrulae elongate and a blunt projection forms at the anterior region, marking the formation of the preoral lobe and the future position of the central brachium [ILLUSTRATION FOR FIGURES 1B, 2A OMITTED].
The ratio of body to brachium is 2.2: 1, similar to that for the central brachia of P.
This coelom subsequently forms the lumen of the central brachium. By the time the three brachial rudiments are evident externally in 3-day-old larvae, the anterior coelom has branched into the two lateral arms.