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Also known as a variable-rate home loan, an adjustable-rate home loan has an interest rate

Also known as a variable-rate home loan, an adjustable-rate home loan has an interest rate

Adjustable-rate mortgage (supply)

That may change periodically during the full life of the mortgage relative to alterations in an index like the U.S. Prime speed or perhaps the London Interbank granted speed (LIBOR). Bank of America ARMs usage LIBOR due to the fact basis for ARM rate of interest alterations.

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