Recently, 15-Year Mortgages Have Increased in Popularity Amongst Both Borrowers

question 35

Multiple Choice

Recently, 15-year mortgages have increased in popularity amongst both borrowers and lenders. Which of the following groups of borrowers would typically be the least interested in a 15-year mortgage?

• A) Mature households with minimal financial constraints
• B) First-time homebuyers
• C) Homeowners who are refinancing to obtain a lower rate than is available on a comparable 30-year mortgage
• D) Homeowners who are interested in selling their property within five years