Finance
What is an 'ARM' (adjustable rate mortgage) and what risk does it pose to Idaho borrowers?
AA mortgage with a fixed rate for the loan term
BA mortgage whose interest rate can change periodically based on an index, exposing borrowers to payment increases when rates rise✓ Correct
CA government-backed loan program
DA mortgage requiring annual full repayment
Explanation
An adjustable rate mortgage (ARM) has an interest rate that adjusts periodically (e.g.
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