Which of the Following Statements Is False

question 17

Multiple Choice

Which of the following statements is false?

• A)During the past couple of decades, generally high fixed-rate mortgage loan interest rates and the desire to extend housing ownership to more individuals in the U.S., the use of adjustable-rate mortgages grew in usage.
• B)An adjustable-rate mortgage (ARM) has an interest rate that changes or varies over time with market-determined interest rates on a U.S.treasury bill or other debt security.
• C)The interest rate on an ARM is often adjusted annually to reflect changes in treasury bill rates (or other interest rate benchmark).
• D)Lenders typically offer ARMs with variable interest rates for one to five years with a provision to switch to a fixed-rate over the remaining life of the ARM.
• E)all of the above statements are true

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