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what happens to the interest rate on a fixed - rate mortgage? it remain…

Question

what happens to the interest rate on a fixed - rate mortgage?
it remains the same throughout the term of the loan.
it is lower at the beginning and increases after a set period.
it is higher at the beginning and decreases over time.
it can change over time based on market conditions.

Explanation:

Brief Explanations

A fixed - rate mortgage is defined by having an interest rate that does not change during the entire term of the loan. The first option states "It remains the same throughout the term of the loan", which matches the definition of a fixed - rate mortgage. The other options describe features of adjustable - rate mortgages or other non - fixed rate loan structures.

Answer:

A. It remains the same throughout the term of the loan