11-20 Adjustable rate mortgages have interest rates that adjust periodically according to the movement in some index.

Name: 11-20 Adjustable rate mortgages have interest rates that adjust periodically according to the movement in some index.
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Adjustable rate mortgages (ARMs) do have interest rates that adjust periodically based on the movement of an index such as the prime rate or LIBOR. This means that the borrower's monthly payment can increase or decrease depending on the movement of the index.

11-20 Adjustable Rate Mortgages Have Interest Rates That Adjust Periodically