Consider a 30-year 140000 mortgage with a rate of 0620, Ask an Expert

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Consider a 30-year, $140,000 mortgage with a rate of .0620 percent. Thirteen 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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Financial Management, Finance

Category:- Financial Management
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