On an adjustable rate mortgage, do borrowers always prefer smaller (i.e. tighter) rate caps that limit the
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On an adjustable rate mortgage, do borrowers always prefer smaller (i.e. tighter) rate caps that limit the amount the contract interest rate can increase in any given year or over the life if the loan? Explain why or why not.
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Borrowers preferences are influenced by their expectations of fu...View the full answer
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Related Book For
Real Estate Principles A Value Approach
ISBN: 978-0077836368
5th edition
Authors: David C Ling, Wayne Archer
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