adjustable rate

adjustable rate

An adjustable rate is a rate of interest paid on outstanding debt (often a mortgage) that can fluctuate. Generally, adjustable rates are defined relative to an underlying variable index, as in 30-day LIBOR plus 1.50%.

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Loan Type Today
15 yr fixed 4.72%
30 yr fixed 5.16%
5/1 ARM 4.60%

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