QAEconomics › The biggest factor in determining the price of a mortgage is:
Q

The biggest factor in determining the price of a mortgage is:

A) The total cost of the home

B) the down payment

C) the interest rate

D) the lender

A

Answer: C) the interest rate

A mortgage is a loan obtained from a bank that is paid over a period of time to a bank. A mortgage usually comes with an interest rate attached to it. This interest depends on the country of residence and can be over 10%. A mortgage is usually a measure taken to buy a house when the prospective buyers cannot afford it but want to pay the bank over time instead.

1 year ago
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