You are considering a 5/1 arm. what does the 1 represent?

1 represent the change of time period after 5 years

step-by-step explanation:

arm means adjustable rate mortgage

and the value given 5 means that arm locks in a lower rate for a consumer for five years

the given rate also fluctuate

therefore, in case of 5/1 the rate will be changed every year after 5-year time period is up.

so, 1 represent the change in year like gap between the change after 5 years  

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