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12-05-2024
Chemistry

Answered

What best determines whether a borrower's interest rate on an adjustable rate loan goes up or down?
a fixed interest rate
O a bank's finances
O a market's condition
a person's finances
Save and Evit

Answer :

GinnyAnswer GinnyAnswer

12-05-2024

Final answer:

Adjustable-rate mortgages change with market interest rates, impacting homeowners based on inflation changes.

Explanation:

An adjustable-rate mortgage (ARM) changes with market interest rates over the life of the mortgage. If inflation falls unexpectedly, the interest rate on an ARM would likely decrease, benefitting the homeowner by allowing them to pay less interest.

Learn more about Adjustable-rate mortgages here:

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