Consider a 20-year 180000 mortgage with a rate of 540, Ask an Expert

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Consider a 20-year, $180,000 mortgage with a rate of 5.40 percent. Five years into the mortgage, rates have fallen to 5 percent. What would be the monthly saving to a homeowner from refinancing the outstanding mortgage balance at the lower rate for the same maturity date?

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Category:- Financial Management
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