Sentences with phrase «adjustments following the fixed»

ARM loans are usually labeled with numbers that delineate a) the length of the introductory fixed phase, and b) the frequency of rate adjustments following the fixed phase.

Not exact matches

Introductory rate is fixed for six months following the account opening date, and is not based on index and margin used for later rate adjustments.

Adjustable rate mortgages typically have a lower initial fixed rate followed by periodic adjustment intervals, resulting in monthly payments that will vary over the life of the loan.

Royal Bank of Canada is raising the posted rates on some of its fixed - rate mortgages, becoming the second big bank this week to make adjustments following sharp increases in government bond yields.

The numbers indicate the number of years the initial interest rate will remain fixed, followed by the maximum it can be adjusted each year afterwards (# of years / max annual adjustment).

That's where the «5/1» label comes from — five years fixed, followed by adjustments every year thereafter.