A monthly fixed rate mortgage payment: A. could change.
B. never changes.
C. increases annually.
D. decreases annually.
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A monthly fixed rate mortgage payment: A. could change.
B. never changes.
C. increases annually.
D. decreases annually.
The correct answer is B. never changes.
A monthly fixed-rate mortgage payment remains the same throughout the life of the loan. This means that the principal and interest payments are consistent, making it easier for borrowers to budget their monthly expenses. If you have more questions or need further assistance, feel free to ask!