A mortgage that allows the lender to raise or lower the interest rate from time to time as some specified index rises or falls.

An adjustable-rate mortgage; its rate is listed to an index of lender's cost of money, calculated periodically.

The interest rate is usually compounded monthly and fluctuates with the prime rate. Mortgage basics for Alberta mortgages.

A mortgage with an interest rate that fluctuates during the life of the mortgage.

Mortgage in which interest rate will fluctuate depending on term of mortgage.

Mortgage with a rate that varies in line with changes in the pattern of interest rates.

A mortgage loan for which the rate of interest changes with market conditions. Usually the monthly payment amount is fixed for a stipulated period but the amount of principal reduction varies according to the rate of interest.

A mortgage that permits the lender to adjust the mortgage's interest rate periodically on the basis of changes in a specified index. Interest rates may move up or down, as market conditions change.

A mortgage for which the rate of interest fluctuates as money market rates change. While the regular payments you make stay the same for the term, the amount applied toward the principal changes according to the change (if any) in the rate of interest. This is also referred to as a Floating Rate Mortgage.

A mortgage for which the rate of interest changes as money market conditions change. The regular payments stay the same for a specified period. However, the amount applied toward the principal changes according to the change (if any) in the rate of interest. Also referred to as a floating rate mortgage.

A long term mortgage under which the interest rate may be adjusted periodically.

The rate of interest will fluctuate in accordance with a bank trend setting rate. This is typically the bank prime rate. Adjusted on a predetermined basis, usually monthly, the rate can be set below, equal to or above the trend setting rate and will move up and down accordingly with that rate.

a loan when the interest rate can periodically change

a loan where the interest rate can change periodically

a mortgage where rate of interest can change periodically

an open or a closed mortgage whose interest rate fluctuates with the change in the prime rate

a special type of mortgage loan that does not have a fixed interest rate and allows for the adjustment of the interest rates in accordance with the market fluctuations and terms agreed upon prior to the deal

The interest rate on these loans fluctuates periodically in response to changing market conditions. As the interest rate fluctuates, your mortgage payment will be adjusted up or down.

A mortgage for which payments are fixed, but whose interest rate changes in relationship to fluctuating market interest rates. If market rates go up, a larger portion of the payment goes to interest. If rates go down, a large portion of the payment is applied to the principal.

See Adjustable Rate Mortgages

A loan being repaid by payments change as the market interest rate changes.

A loan with each scheduled payment consisting of the same amount of principal each time but with the interest portion changing as interest rates change.

A mortgage in which the interest rate is adjusted periodically based on an index. Also known as the renegotiable rate mortgage,... read full article

A long-term loan having an interest rate which fluctuates with a reference index and generally reflects the current market rate of interest.

mortgage in which the interest rate is adjusted periodically, based on a pre-selected index. It is also sometimes referred to as the renegotiable rate mortgage, the variable rate mortgage or the Canadian rollover mortgage. Sometimes referred to as an adjustable rate mortgage.

A variable rate mortgage is one in which the amount you repay increases or decreases in line with any interest rate changes. This means that you cannot predict the monthly cost of the borrowing, which could cause financial concerns within the mortgage period.

A mortgage where payments can be fixed from one to five years, but the interest rate could change from month to month depending on market conditions. If interest rates go down, the monthly principal is reduced; if rates go up, the monthly payments might not cover the interest owing and payments may be increased for the next term. Most variable rate mortgages allow prepayment of any amount (with certain minimums) on any monthly payment date and usually without penalty.

Same as Adjustable Rate Mortgage.

Like adjustable rate mortgage.

A loan in which the interest rate fluctuates with the cost of funds or some other index.

A mortgage with fixed payments that fluctuates with interest rates. The changing interest rate determines how much of the payment goes towards the principal.

Adjustable rate mortgage -- a mortgage in which the interest rate is adjusted periodically based on a preselected index. Also sometimes known as the renegotiable rate mortgage or the Canadian rollover mortgage.

Another name for an adjustable rate mortgage or ARM.

An interest rate on a mortgage that fluctuates according to changes in the prime lending rate. A variable rate mortgage has payments which are fixed for the term, even though interest rates may fluctuate during that time. If interest rates go down, more of the payment is applied to reduce the principal; if rates go up, more of the payment is applied to payment of interest. Variable rate mortgages may be open or closed.

A loan with an interest rate that fluctuates based on the performance of a designated financial index (e.g. T-bills, LIBOR) and a preset margin or percentage difference as outlined in the note.

A mortgage loan that provides for adjustments in the interest rate as the market interest rates change.

A mortgage agreement that allows for adjustment of the interest rate in keeping with the fluctuating market and terms agreed on in the note.

Also referred to as Adjustable Rate Mortgage. A mortgage in which the interest rate is adjusted periodically based on a pre-selected index.

The interest rate is usually compounded monthly and fluctuates with the prime rate at the chartered banks. In most, but not all cases, the VRM is fully open.

A loan with an interest rate that hinges on factors such as the rate paid on bank certificates and Treasury bills.

A mortgage in which the interest rate of the loan is allowed to vary with market rates.

A mortgage with an interest rate that is periodically adjusted by the lender based on a specified index. Also known as a Adjustable Rate Mortgage. Typically, these mortgage products start with a lower interest rate, then the interest rate may move up or down as market conditions and the index change.

A mortgage for which the rate of interest fluctuates as money market rates change. The payment will usually remain the same for the term. If rates increase to a point where the payment does not cover the interest, an increased payment or a paydown of the principal would be required. Also known as a floating rate mortgage.

A mortgage where the interest rate varies during the term of the mortgage, usually based on the prime bank rate or the GIC rate of the lender.

A mortgage loan where the interest rate is adjusted according to movements in the Bank of Canada Discount Rate, or the Prime Rate offered by the lending institution. Most variable rate mortgages carry the option of converting to a Fixed Rate Mortgage at any time.

A mortgage with an interest rate that changes with fluctuations in such indexes as the prime rate, libor rate, or treasury bill.

See Adjustable Rate Mortgage.

A mortgage where the interest rate is not fixed and which is dependent on influences such as interest rates on Treasury securities in the US or base rate in the UK.

A type of mortgage under which the interest rate charged may vary according to an index, such as the bank prime rate; the original borrower must be notified of any upward or downward change. An increase in the monthly payment or extension of the mortgage term. The borrower ordinarily has the option to prepay the loan without penalty before the rate becomes effective.

A mortgage product where the interest rate is adjusted periodically based on a standard financial index. Also called an "Adjustable-rate Mortgage." CanEquity has access to the best Variable rate/below prime mortgages in Canada. Click here for additional information.

A mortgage where payments can be fixed from one to five years, but the interest rate could change from month to month depending on market conditions. Interest rates fluctuate with the prime lending rate.

A mortgage in which the interest rate is adjusted periodically based on an index. Also known as the renegotiable rate mortgage, the variable rate mortgage or the Canadian rollover mortgage.

A loan with an interest rate that adjusts with the changes in rates paid on Treasury bills or bank certificates of deposit.

A mortgage in which the interest rate fluctuates during the term and either payments or balance outstanding are adjusted accordingly.

A mortgage loan subject to changes in interest rates; when rates change, ARM monthly payments increase or decrease at intervals determined by the lender; the change in monthly payment amount, however, is usually subject to a cap. Also called Adjustable Rate Mortgage.