With the development of adjustable mortgage instruments and creative financing techniques fixed-rate mortgages have been almost completely supplanted by the newer financial instruments, according to the textbook.

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Fixed-rate mortgages remain popular and have not been almost completely supplanted by adjustable mortgage instruments or creative financing techniques. They continue to be a preferred choice for many homeowners seeking stability in their monthly payments over the life of the loan.

With the Development of Adjustable Mortgage Instruments and Creative Financing