Current Mortgage RatesThursday, December 04, 2008Glossary of Terms1 2 3 4 5 7 8 A B C D E F G H I J L M N O P Q R S T U V W Y Z3 Year Adjustable (ARM)A loan with a fixed rate for the first 3 years that has a rate that changes once each year for the remaining life of the loan. Because the interest rate can change after the first 3 years, the monthly payment may also change. |