What’S A 5/1 Arm Loan

7/1 Arm Definition An adjustable-rate mortgage (ARM) is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan. Normally, the initial interest rate is. 2019-07-01 5/1 arm mortgage Rates ; 7/1. 7/1 ARM mortgage rates. high your interest rate could go during the life of your loan.