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ADJUSTABLE RATE MORTGAGE



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Answer:

Adjustable rate mortgage.

Step-by-step explanation:

The adjustable rate mortgage or ARM is a type of mortgage, where the given or applied interest rate on the loan, changes with time, or it changes  throughout the life of loan.

In general we get a fixed rate for a fixed period of time, after which the rate  resets periodically, often every year or six monthly and in some cases even monthly.

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