With the Recent Popularity of Adjustable-Rate Mortgages (ARM), Lenders Have

question 38

Multiple Choice

With the recent popularity of adjustable-rate mortgages (ARM) , lenders have begun to offer ARMs with different adjustment periods. Which of the following ARM choices will most likely have the highest initial rate?

• A) Three-year-one-year ARM
• B) Five-year-one-year ARM
• C) Seven-year-one-year ARM
• D) Ten-year-one-year ARM

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