Finance
The Federal Reserve's monetary policy affects South Carolina mortgage rates primarily through:
ADirect control of all mortgage interest rates
BSetting short-term interest rates that influence overall borrowing costs✓ Correct
CApproving all mortgage applications
DRegulating all real estate transactions
Explanation
The Fed's monetary policy (adjusting the federal funds rate) influences overall interest rate levels. Higher Fed rates generally push mortgage rates higher; lower rates tend to lower mortgage rates.
Related South Carolina Finance Questions
- A South Carolina homebuyer receives a Loan Estimate showing an APR of 6.8% on a loan with a stated interest rate of 6.5%. The difference is due to:
- Under the Home Mortgage Disclosure Act (HMDA), South Carolina lenders must:
- RESPA (Real Estate Settlement Procedures Act) requires disclosure of:
- A graduated payment mortgage (GPM) features:
- A South Carolina buyer obtains a VA loan. Which of the following statements about VA loans is correct?
- A South Carolina 'assumable mortgage' allows:
- What is a 'due-on-sale clause' in a South Carolina mortgage?
- A South Carolina property has an appraised value of $350,000. The buyer makes a 10% down payment. What is the loan-to-value (LTV) ratio?
Practice More South Carolina Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Carolina Quiz →