Which statement is false? a) If you expect interest rates to rise, you would prefer a fixed-rate over a variable- rate mortgage. b) You are likely to be charged a lower interest rate on an insured mortgage than a conventional mortgage. c) On-reserve land is often the property of the First Nation, thus individuals can only mortgage and own the home. d) The premium on CMHC mortgage loan insurance is maxed at 4.5% for traditional down payments.

Which statement is false? a) If you expect interest rates to rise, you would prefer a fixed-rate over a variable- rate mortgage. b) You are likely to be charged a lower interest rate on an insured mortgage than a conventional mortgage. c) On-reserve land is often the property of the First Nation, thus individuals can only mortgage and own the home. d) The premium on CMHC mortgage loan insurance is maxed at 4.5% for traditional down payments.

PFIN (with PFIN Online, 1 term (6 months) Printed Access Card) (New, Engaging Titles from 4LTR Press)

6th Edition

ISBN:9781337117005

Author:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Publisher:Randall Billingsley, Lawrence J. Gitman, Michael D. Joehnk

Chapter6: Using Credit

Section: Chapter Questions

Problem 5FPE

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