Mortgage loans can be structured as fixed rate or adjustable rate. As a borrower comparing rates on these and with a choice to accept a fixed or adjustable interest rate structure, you would expect the:

a. fixed rate to be lower as you are making a long term commitment

b. variable rate to be lower because you are taking interest rate risk

c. fixed rate to be lower because you are protected from interest rate changes

d. fixed rate to be the same as the adjustable rate at the beginning of the loan term