A mortgage where the interest owed changes in response to movements in a specific market-determined interest rate is called a(n)

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asked Oct 3, 2020 5.7k views

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Petr Spacek · Answer 1 · 2020-10-10T01:01:09+0000

Answer:

Adjustable-rate mortgage

Step-by-step explanation:

An adjustable-rate mortgage is the structure of periodic payment on a mortgage. Before a certain point in time, the borrower will pay the fixed amount of money for monthly payment. Then when reaching a certain point, the rate of the loan can be fluctuated, comparing to the fixed-rate mortgage that the rate of the loan stays the same for the life of the loan.

A mortgage where the interest owed changes in response to movements in a specific market-determined interest rate is called a(n)

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