Definition of adjustable-rate mortgage in English:
A mortgage whose rate of interest is adjusted periodically to reflect market conditions. Also called variable-rate mortgage.
- Greenspan told consumers to get adjustable rate mortgages as interest rates were hitting 45 year lows.
- These are the most sensitive mortgages, one year adjustable rate mortgages, in fact, that's where you would see the impact.
- That - and the rising interest rate environment putting pressure on adjustable rate mortgages - could result in more mortgage defaults.