Question: 1.Explain and compare variable and fixed rate interest rates ? 2.Explain each of the following mortgage accounts: a. Basic variable rate mortgage b. Standard variable

1.Explain and compare variable and fixed rate interest rates ?

2.Explain each of the following mortgage accounts:

a. Basic variable rate mortgage

b. Standard variable rate mortgage

c. Fixed interest rate mortgage

d. Honeymoon rate

e. Line of credit

f. Mortgage offset

g. Construction

(use australian bank refences or anz bank if needed for all question please)

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