Which statement is TRUE regarding mortgage interest rates?
A) Mortgage interest rates are the constant payments you make over time to repay the lender the original money you borrowed.
B) Mortgage interest rates are always locked in for the full term of the loan.
C) Mortgage interest rates in the past decade have ranged from 5 to 10 percent per year, depending on the terms and creditworthiness of the borrower.
D) Mortgage interest rates always vary with market rates of interest.
E) In low-interest-rate economic circumstances, it makes sense to set the rates to vary with market rates of interest.
Correct Answer:
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