The adjustable-rate mortgage was the standard type before the early 2000s.

Name: The adjustable-rate mortgage was the standard type before the early 2000s.
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Before the early 2000s, the fixed-rate mortgage was the standard type, offering homeowners predictable payment schedules over the life of the loan. Adjustable-rate mortgages (ARMs) became more popular later, particularly leading up to the housing bubble burst in the late 2000s.

The Adjustable-Rate Mortgage Was the Standard Type Before the Early