Adjustable-rate mortgages usually have interest rates lower than market rates during the first year.

Name: Adjustable-rate mortgages usually have interest rates lower than market rates during the first year.
Brand: Quizplus
Rating: 4.8 (43 reviews)

Question

Quizplus · Accepted Answer

This is generally true for adjustable-rate mortgages as the initial interest rate is typically set lower than the market rate to attract borrowers. However, after the initial period, the interest rate may increase or decrease based on market conditions and the terms of the loan agreement.

Adjustable-Rate Mortgages Usually Have Interest Rates Lower Than Market Rates