Finance
An adjustable-rate mortgage (ARM) in Nevada typically features:
AA rate that can only adjust upward
BA fixed rate for an initial period, then periodic adjustments based on an index✓ Correct
CNo caps on interest rate adjustments
DGuaranteed rate decreases over the life of the loan
Explanation
An ARM has an initial fixed-rate period (e.g., 5 years) followed by periodic rate adjustments tied to a market index (such as SOFR). ARMs include caps limiting how much the rate can change per adjustment and over the life of the loan.
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