Adjustable-rate mortgage (ARM), variable-rate mortgage, flexible rate mortgage, hybrid mortgage, floating-rate mortgage, or tracker mortgage, are all synonyms for an adjustment mortgage. An adjustable-rate mortgage is a type of mortgage loan that has a variable interest rate, meaning the interest rate changes based on fluctuating market conditions. Borrowers usually start with a lower interest rate at the beginning of the loan period, which then increases or decreases based on market trends. Adjustable-rate mortgages can be a great option for anyone looking for flexibility in their mortgage payment and one who is willing to take on some risk. They offer lower initial payments, but they can also experience higher interest rates and monthly payments during the loan period.