During this time, many home owners refinanced their homes. This caused their mortgage to change, giving them lower interest. After they refinanced, homeowners could take out another mortgage, for spending money. The loaning companies changed their loans so that they would have low interest at first and then increase later. This is known as an adjustable-rate mortgage. The companies often used these to convince more people to take loans. Many people with subprime loans also took these adjustable-rate mortgages, hoping that the good price of housing would help them refinance later.