31. Define: ARM 32. Explain: Why the 10-year Treasury is important to the Mortgage market. 33. Define: Discount Points 34. Explain: Mortgage interest payments, real estate taxes, and determination of federal income tax to be paid in a given year. 35. Discuss: adjusted monthly income and the probability of mortgage approval. 36. Explain: When do we witness more foreclosure activity? 37. Explain: Title insurance and other closing costs. 38. Discuss: Second mortgages. 39. Who is Freddie Mac and Fannic Mac, and why are they important to the Mortgage market? 40. Explain: Tax advantages of owning real estate