What best determines whether a borrower's interest rate on an adjustable rate loan?
A. a fixed interest rate
B. a bank's finances
C. a market's condition
D. a person's finances
Answer (1)
The borrower's interest rate on an adjustable rate loan is primarily determined by a market's condition, which reflects broader economic factors. While a person's finances can influence their creditworthiness, the market ultimately dictates the range of interest rates available. Other factors like a bank's financial state are secondary in this determination. ;
