Are more propeller blades better? Jeremy Kinney, a curator at the National Air and Space Museum, shares his thoughts. A sailor hoses down the propeller on a P-3 Orion during an aircraft wash on the flight line at Naval Air Station Whidbey Island, Washington.
There's the silly, the foolish and the completely harebrained. And then there's the adjustable rate mortgage -- ARM for short. Like unprotected sex or one more drink, it always seems like a good idea at the time. In an environment of only low and lower rates, an ARM has looked like a good idea for many years now.
What is a 'Cap'. The highest point to which an adjustable rate mortgage (ARM) can rise in a given time period or the highest rate that investors can receive on a floating-rate type bond. The issuer typically sets the cap at the time the contract is issued. With an ARM, it is detailed in the terms of the mortgage document.