You Currently Have a 5-Year Adjustable Variable Rate Mortgage Which

question 116

Multiple Choice

You currently have a 5-year adjustable variable rate mortgage which is 4 years into the adjustment period. The current interest rate is 3.5% per annum, and the rate is indexed to the 10-year Treasury note which is currently yielding 2.15%. Most financial forecasters are anticipating rate increases over the 2018-2019 period, but there is no consensus on the total amount of the increases. Given the interest rate environment, what would be the best course of action for your mortgage?

• A) Double up on payments and pay it off in half of the term.
• B) Refinance at the conventional 30-year fixed rate currently offered at 3.75%.
• C) Stick with your existing mortgage since it is currently 3.5% and below the offered fixed rate.
• D) Refinance into a 1-year ARM so that when rates decrease you will be in a better position.

Recognize the purpose, strengths, and criticisms of the Diagnostic and Statistical Manual of Mental Disorders (DSM).

Identify the types of anxiety disorders and their symptoms.

Distinguish between different types of phobias and their characteristics.

Understand the concept of mental disorder and its implications on individuals' functioning and behavior.

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Definitions:

Reframing

A psychological technique involving changing the context or viewpoint of a situation to see it in a positive or different light.

Detriangulation

The process of removing a third party from a conflict between two other parties to directly address and resolve the issue.

Deinstitutionalization

The policy of moving people with mental or physical disabilities from large institutional settings into community-based care.

Mental Disorders

Conditions characterized by alterations in thinking, mood, or behavior associated with distress and/or impaired functioning.