If you’re thinking about buying a house, you need to know that there are several types of mortgages available for consumers – and one of them is an adjustable-rate mortgage. But what’s an adjustable rate mortgage, and why do some people choose them? What is an Adjustable Rate Mortgage? An adjustable-rate mortgage (commonly called an ARM) is one in which your interest rate changes throughout the life of your loan. Usually, there’s a fixed-rate period (usually 5, 7 or 10 years) during which … Continue reading...