Super Finance Glossary
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Searched for Adjustable rate
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Adjustable Rate
Definition: Applies mainly to convertible securities. Refers to interest rate or dividend that is adjusted periodically, usually according to a standard market rate outside the control of the bank or savings institution, such as that prevailing on Treasury bonds or notes. Typically, such issues have a set floor or ceiling, called caps and collars that limits the adjustment.
Definition: Applies mainly to convertible securities. Refers to interest rate or dividend that is adjusted periodically, usually according to a standard market rate outside the control of the bank or savings institution, such as that prevailing on Treasury bonds or notes. Typically, such issues have a set floor or ceiling, called caps and collars that limits the adjustment.
Adjustable Rate Mortgage (ARM)
Definition: A mortgage loan that allows the interest rate to be changed, usually based on an established index, at specific intervals over the maturity of the loan.
Definition: A mortgage loan that allows the interest rate to be changed, usually based on an established index, at specific intervals over the maturity of the loan.
