Joe is shopping for a new home. He is trying to decide how large his down payment should be. Joe is earning 2.5 percent APY in his savings account, whereas his mortgage loan will cost him 5 percent APR. If Joe has the money available in his savings account, he should

Group of answer choices

increase his down payment on the house.

purchase mortgage insurance.

not buy the house right now.

reduce the down payment on the house.