5
QuizMultiple Choice

Mortgages and Home Ownership

Question 5 • Financial Literacy (WMHS) - Semester 1

What impact might an economic downturn have on a borrower’s fixed-rate mortgage?

Answer
A
It might cause a borrower’s payments to go up.
B
It might cause a borrower’s payments to go down.
C
It has no impact because a fixed-rate mortgage cannot change.
D
It has no impact because the economy does not affect interest rates.
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