Suppose you are shopping for a mortgage and the lender presents you with a long menu of loan options. For each option, there is a discount point charged and an interest rate given. The amount of the point ranges anywhere from -1% to 3%. When would it be optimal for you select a loan with a point of 2%? (Assume there is no affordability constraint, ie: you have the money to buy whatever point you would like). O Never O Always If you have a very long holding period If you have a very short holding period Only when the point is equal to the effective borrowing cost Question 30 3.33 pts Fill in the blanks (answers are in same order as the statements) default is typically defined as 90 days delinquent. default is when there is any failure to meet the requirements of the note or mortgage None of these are correct O probable, technical legal, probabable O probable, legal technical substantive