Question: Identify the incorrect statement. a . Most financial institutions post similar rates for similar mortgage terms, but the borrower can negotiate the rate. b .

Identify the incorrect statement. a.Most financial institutions post similar rates for similar mortgage terms, but the borrower can negotiate the rate.
b.When borrowers expect interest rates to rise, they will prefer a variable rate mortgage over a fixed rate mortgage.
c.Variable rate mortgages can be open or closed.
d.A fixed-rate mortgage specifies a fixed interest rate over the chosen term of the mortgage.

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