Which of the following statements about adjustable-rate mortgages is TRUE? Interest rates can't change over the life of the mortgage. Adjustable-rate mortgages are especially attractive to high-income buyers. Adjustable-rate mortgages usually have interest rates lower than market rates during the first year. Adjustable-rate mortgages are more attractive when interest rates on fixed mortgages fall.
Which of the following statements about adjustable-rate mortgages is TRUE? Interest rates can't change over the life of the mortgage. Adjustable-rate mortgages are especially attractive to high-income buyers. Adjustable-rate mortgages usually have interest rates lower than market rates during the first year. Adjustable-rate mortgages are more attractive when interest rates on fixed mortgages fall.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Which of the following statements about adjustable-rate mortgages is TRUE? Interest rates can't change over the life of the mortgage. Adjustable-rate mortgages are especially attractive to high-income buyers. Adjustable-rate mortgages usually have interest rates lower than market rates during the first year. Adjustable-rate mortgages are more attractive when interest rates on fixed mortgages fall.
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