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With the recent popularity of adjustable-rate mortgages (ARM), lenders have begun to offer ARMs with different adjustment periods. Which of the following ARM choices will
With the recent popularity of adjustable-rate mortgages (ARM), lenders have begun to offer ARMs with different adjustment periods. Which of the following ARM choices will most likely have the lowest initial rate?
A. 5/1 ARM
B. 3/1 ARM
C. 7/1 ARM
D. 10/1 ARM
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