A Borrower Is Offered a Choice Between a Fixed Rate

question 108

Multiple Choice

A borrower is offered a choice between a fixed rate mortgage and a variable rate mortgage.The variable rate mortgage may be more attractive to the lender if the lender expects:

• A)Inflation to decrease
• B)The home price to decrease
• C)The home price to increase
• D)Inflation to increase

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Definitions:

By Mail

A method of sending or receiving items or correspondence through postal services.

Code Number

A unique identifier assigned to individuals, samples, or data for the purposes of privacy or organization.

Printed Check

A preprinted form used to make payment from a bank account, containing the details of the payee and the amount.

Upper-Right Corner

A term often used to describe the location at the top right portion of a page, screen, or area.