Back in October 2021, your family was in a market to obtain a mortgage to buy a house. Back then, the yield on the US Treasury 30-yr bond was 2.067%. Your family's mortgage broker offered them 2.43% for a 15-year fixed rate; 3.17% for a 30-year fixed rate; and 3.63% for a 5/1 year ARM. Your family and your mortgage banker are both hawkish rates (they think that the Fed will raise interest rates). Based on this information, your family should have chosen the _________ mortgage while your banker should have preferred to sell your family the _____________ mortgage. Please mark the only CORRECT answer.

	a.	15-year rate fixed (if your disposable income permits); 5/1 ARM
	b.	30-year rate fixed (regardless of your disposable income); 15-year fixed
	c.	15-year fixed; 30-year fixed
	d.	5/1 ARM; 30-year fixed