Consider a 30-year fixed-rate mortgage for $200,000 at a nominal rate of 8%. A mortgage broker closes
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Consider a 30-year fixed-rate mortgage for $200,000 at a nominal rate of 8%. A mortgage broker closes this deal on August 30.
If the broker wants to sell this mortgage to a bank on August 31 and rates have decreased to 7.5%, how much would this broker ask for the mortgage?
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Related Book For
Financial Markets And Institutions
ISBN: 9780138043681
10th Edition
Authors: Frederic S Mishkin, Stanley Eakins
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