A mortgage having an interest rate that varies depending on the change in some outside standard such as prime rate, interest rate on United States Treasury securities, or the Inflation rate. The lender can increase or decrease the interest rate on the mortgage at specified intervals based on changing market conditions. The mortgage agreement specif [..]

Mortgage with an interest rate that can change up or down depending on an indicator. These are often based on something like the current rate of Treasury bills.

A mortgage agreement between a financial institution and a real estate buyer stipulating predetermined adjustments of the interest rate at specified periods. The payments are tied to some index outsid [..]

Mortgages with an interest rate that may change up or down depending on an indicator. These are usually based on something like the current treasury bill rate.