Cleveland Real Estate Information: Mortgages
Adjustable-Rate Mortgages (ARMs)
Treasury-Indexed ARMs: These are tied to the weekly average
yield of U.S. Treasury Securities adjusted to a constant maturity of
six months, one year, or three years. Likewise, the interest rate on
your ARM will adjust once every six months, once each year, or once
every three years, depending on the schedule you choose. Per-adjustment
caps and lifetime rate caps also vary.