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Which statement best describes a fixed - rate mortgage? Group of answer choices A mortgage where the interest rate adjusts periodically based on market conditions.

Which statement best describes a fixed $-$ rate mortgage?

Group of answer choices

A mortgage where the interest rate adjusts periodically based on market conditions.

A mortgage with a constant interest rate throughout the loan period.

A mortgage where the principal and interest payments increase over time.

A mortgage that requires only interest payments until a final balloon payment.

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