For those who are willing to look beyond the typical fixed term loan, an adjustable rate mortgage, or ARM, could be the right way to go. This type of mortgage offers introductory mortgage rates, known as teaser rates, for up to the first ten years of the loan. After the introductory period expires, the rate resets to reflect current market rates. Although there is more risk associated with ARMs, the banks offer borrowers lower interest rates during the introductory, non-adjusting teaser period of the loan.