Which of the following statements would be TRUE?

I. Mortgage rates are closely tied to Treasury bond rates, but mortgage rates tend to stay below Treasury rates because mortgages are secured with collateral.

II. Longer-term mortgages have higher interest rates than shorter-term mortgages.

III. Interest rates are higher on mortgage loans on which lenders charge points.

IV. A lien protects the mortgage lender's right to sell property if the underlying loan defaults.

II and III

III and IV

II and IV

I and II