You got a $500,000 mortgage for your new home. This is a 30- year fixed rate constant amortization mortgage with the rate at 8.00 %. You can pay 1.5 point to lower your mortgage rate to 7%. How long...

You got a $500,000 mortgage for your new<br>home. This is a 30- year fixed rate constant<br>amortization mortgage with the rate at 8.00<br>%. You can pay 1.5 point to lower your<br>mortgage rate to 7%. How long should you<br>keep the house to make the point payment<br>break even?<br>

Extracted text: You got a $500,000 mortgage for your new home. This is a 30- year fixed rate constant amortization mortgage with the rate at 8.00 %. You can pay 1.5 point to lower your mortgage rate to 7%. How long should you keep the house to make the point payment break even?

Jun 10, 2022

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You got a $500,000 mortgage for your new home. This is a 30- year fixed rate constant amortization mortgage with the rate at 8.00 %. You can pay 1.5 point to lower your mortgage rate to 7%. How long...

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