Which of the following is correct? a. Adjustable Rate mortgages (ARMs) have their contractual rates periodically adjusted to some underlying index, such as the one-year T-bill rate. b. The proportion of Fixed-Rate Mortgages (FRMs) to Adjustable Rate Mortgages (ARMs) in Financial Institutions (FIS) portfolios varies with the interest rate cycle. C. In general, borrowers prefer fixed-rate to adjustable rate mortgages in high-interest rate periods. d. Both option A and option B e. Option A, Option B and Option C