<human>: What's the difference between a mortgage and an ARM?
<bot>: The main difference between a mortgage and an adjustable-rate mortgage (ARM) is that a fixed-rate mortgage will have a set interest rate for the duration of the loan, while an ARM will have an interest rate that may change over time. With a fixed-rate mortgage, you'll know exactly how much your monthly payments will be each month, whereas with an ARM, your payments can vary based on changes in interest rates. Additionally, ARMs typically have higher interest rates than fixed-rate mortgages, which means you could end up paying more overall.