select the correct answer. which is true of an adjustable rate mortgage? a. the borrower can adjust monthly…

select the correct answer. which is true of an adjustable rate mortgage? a. the borrower can adjust monthly payment depending on his budget. b. the interest rate may change depending on the condition of the economy. c. the lender can adjust the monthly payment dates whenever he wants to.

select the correct answer. which is true of an adjustable rate mortgage? a. the borrower can adjust monthly payment depending on his budget. b. the interest rate may change depending on the condition of the economy. c. the lender can adjust the monthly payment dates whenever he wants to.

Answer

Brief Explanations:

An adjustable - rate mortgage (ARM) has an interest rate that is tied to an economic index. So, the interest rate may change depending on economic conditions. The borrower cannot adjust the monthly payment based on budget, and the lender cannot change payment dates at will.

Answer:

B. The interest rate may change depending on the condition of the economy.