Business and Personal Finance Dictionary

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• FIXED-PERIOD ARM
  
  MBSs that are fixed-rate instruments for an initial period and floating-rate securities thereafter. The initial, fixed-rate period may be 3, 5, 7, or 10 years. After the expiration of the fixed-rate period, a typical fixed-period ARM may adjust annually at a margin over the one-year Treasury index. Some fixed-period ARMs have rates tied to LIBOR.
  
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