What is typically true about the total interest paid throughout the term of a fixed-rate mortgage?

The total interest paid throughout the term of a fixed-rate mortgage does not decrease steadily over time; rather, it is actually structured in a way that the interest component of the mortgage payment is higher during the initial years and decreases as the principal amount of the loan is paid down. This is due to the amortization schedule, which allocates a larger portion of early payments to interest and a smaller portion to principal repayment. As the mortgage progresses, a greater portion of the monthly payment goes towards reducing the principal, resulting in less interest being paid on the remaining balance.

In contrast, the other options indicate that the interest payment either stays the same, increases, or is responsive to market conditions. However, since fixed-rate mortgages have a set interest rate that does not change with market fluctuations, the interest component does not vary with market conditions, making these alternatives inaccurate in describing the nature of total interest payments over the mortgage term. The fixed nature of the rate ensures predictability in payments, but the way those payments are applied changes over time due to the amortization process.