The term "sub-prime mortgage crisis" refers to
A) the difficulty new home owners have in negotiating a low interest rate with banks
B) obtaining a mortgage interest rate of 8 percent instead of 7 percent
C) the financial crisis precipitated in 2007 after a sharp increase in mortgage foreclosures
D) lower interest rates on shorter term mortgages than longer term mortgages
E) higher interest rates on shorter term mortgages than longer term mortgages
Correct Answer:
Verified
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A)Easy
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Q101: What is the maximum CMHC premium percentage
A)1.25%
B)1.8%
C)2.4%
D)3.6%
E)3.8%
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