Question: If time has value why are financial institutions often willing to extend you a 30- year mortgage (mortgages are loans for houses, townhouses, and condos)

If time has value why are financial institutions often willing to extend you a 30- year mortgage (mortgages are loans for houses, townhouses, and condos) at a lower annual interest rate than credit card transactions that are due in 30 days? Hint: What is the difference between credit card debt and mortgage debt? Answer in one paragraph! If time has value why are financial institutions often willing to extend you a 30- year mortgage (mortgages are loans for houses, townhouses, and condos) at a lower annual interest rate than credit card transactions that are due in 30 days? Hint: What is the difference between credit card debt and mortgage debt? Answer in one paragraph

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