What is the difference between an adjustable rate mortgage and a fixed rate mortgage?
What is the difference between an adjustable rate mortgage and a fixed rate mortgage?
user
I think I know the answer!
assistant
Great, what is the answer?
user
An adjustable rate mortgage (ARM) lets you pay a lower rate of interest for a period of time, and then later you can adjust the interest rate to a higher rate.
assistant
What is a fixed rate mortgage?
user