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Interest Rate Adjustment Period

Definition of "Interest Rate Adjustment Period"

Kevin Carnes
  RE/MAX Executive Realty

The frequency of rate adjustments on an ARM after the initial rate period is over. The rate adjustment period is sometimes but not always the same as the initial rate period. As an example, using common terminology, a 3/3 ARM is one in which both periods are three years while a 3/1 ARM has an initial rate period of three years after which the rate adjusts every year.

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