Andrew's mother reasoned that Chris probably took out a 30-year mortgage. Thirty years is a popular mortgage length because payments are lower than in a shorter mortgage. She felt that he probably paid about 6 percent interest per year although he could have paid a little less in interest each year if he had put down more than a 5 percent down payment.

According to her calculations, a 30-year mortgage for $190,000 at 6 percent interest means that Chris has monthly payments of $1,139, which comes to $13,668 per year. Since home insurance, real estate taxes, utilities and repairs probably add another $10,000 to his housing costs, his total housing costs are close to $23,700 per year.

If Chris had put down more money for his house, say 20 percent rather than five percent, what would have happened to his monthly housing expenses?

A. They would have increased.
B. They would have decreased.
C. They would have stayed the same because the interest rate on his mortgage would stay the same.
D. They would have stayed the same because real estate taxes would have gone down.