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Adjustment Date

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Sam Site Admin Joined: 21 May 2005 Posts: 281 Location: CALIFORNIA 117.49 Dollars($)	Posted: Fri Apr 09, 2004 3:41 am    Post subject: Adjustment Date The date on which the interest rate on an adjustable rate mortgage (ARM) changes within a regular interval of time is known as the adjustment date. The interest rate and the monthly payments on an ARM vary in every 1, 3 or 5 years. The period between one rate change and the other is called an adjustment period. The interest rate on an ARM is adjusted with respect to a predetermined financial index. The index rate fluctuates with the general variation in interest rates. Some of the common forms of indexes are the Cost of Funds Index, Cost of Savings Index, Prime Rate, etc. Related Article: Adjustable Rate Mortgage

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