As an alternative to the fixed-rate mortgage, borrowers can often obtain an adjustable rate mortgage which has an initial interest rate below that of fixed-rate loans. Which of the following statements best explains the rate difference? O Lenders accept a lower initial rate because the collateral is a better credit risk. Lenders are confused and don't understand the time value of money. Lenders accept a lower initial rate because the borrower bears some of the risk of future interest rate changes. Lenders accept a lower initial rate because the borrower is a better credit risk