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... > contexts > demography > residence characteristics > housing > mortgage finance > adjustable-rate mortgages
... > contexts > population characteristics > health > public health > epidemiologic measurements > demography > residence characteristics > housing > mortgage finance > adjustable-rate mortgages
... > contexts > population characteristics > demography > residence characteristics > housing > mortgage finance > adjustable-rate mortgages

Preferred term

adjustable-rate mortgages  

Definition

  • Since the early 1930s, the standard residential mortgage instrument used in the United States has been a fixed-rate mortgage (FRM). Although it was not often called an FRM, this instrument had a fixed interest rate, which was established at the beginning of the loan period; a constant or level payment or debt service, consisting of both interest and principal; and a fully amortizing repayment schedule, which included a sinking fund payment. [Source: The Encyclopedia of Housing; Adjustable-Rate Mortgages]

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https://concepts.sagepub.com/social-science/concept/adjustable-rate_mortgages

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