Assume a 25-year 490000 mortgage with a rate of 72 percent


Assume a 25-year, $490,000 mortgage with a rate of 7.2 percent. 9 years into the mortgage, rates have fallen to 6.2 percent. What would be the monthly saving to a homeowner from refinancing the outstanding mortgage balance at the lower rate?

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Financial Management: Assume a 25-year 490000 mortgage with a rate of 72 percent
Reference No:- TGS01394383

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