Which of the following mortgage scenarios will benefit the homeowner the most?
A)Adjustable rate mortgage when interest rate increases.
B)Fixed rate mortgage when interest rates falls.
C)Fixed rate mortgage when interest rate rises.
D)None of the answers given, as banker's interest will always be protected.

Question

Quizplus · Accepted Answer

With a fixed rate mortgage, the homeowner is protected from interest rate increases, which can save them money in the long run.

Which of the Following Mortgage Scenarios Will Benefit the Homeowner