Definition of adjustable-rate in English:

adjustable-rate

adjective

US
  • Denoting or relating to a mortgage or other loan with an interest rate that may be changed in response to economic conditions:

    ‘more borrowers had been opting for adjustable-rate mortgages’
    • ‘"Adjustable-rate loan production was $11 billion this month, 183 percent greater than October 2002."’
    • ‘There has been a surge in adjustable-rate home equity lending.’
    • ‘She got a copy of her credit report and then found a lender who offered her an adjustable-rate mortgage with lower payments during the first five years of the loan.’
    • ‘Record adjustable-rate fundings were up 147% from a year ago to $15.75 billion.’
    • ‘Cowens bought her home with an adjustable-rate mortgage of 7.8%.’
    • ‘Two-thirds of all potential home buyers prefer fixed-rate mortgages (FRMs) to adjustable-rate mortgages (ARMs), according to a July survey.’
    • ‘For the month, 99% of mortgage originations were adjustable-rate, with refinancings accounting for 75%.’
    • ‘The powerful mortgage lenders quickly adapted, introducing and aggressively marketing products such as teaser adjustable-rate and interest-only mortgages.’
    • ‘More than 40% of borrowers with jumbo mortgages hold adjustable-rate loans.’
    • ‘Second quarter volume of $49 billion was 138 percent greater than the adjustable-rate volume produced during the prior Year's comparable quarter.’