If Rates in the Market Fall Between Now and One

Multiple Choice

If rates in the market fall between now and one month from now,the mortgage banker:

A) loses as the mortgages are sold at a discount.
B) gains as the mortgages are sold at a discount.
C) loses as the mortgages are sold at a premium.
D) gains as the mortgages are sold at a premium.
E) neither gains nor loses.