Question: You have two options for a 30 year fixed rate mortgage: $500,000 mortgage, 5% rate $500,000 mortgage, 4.50% rate, 2 discount points For how long

You have two options for a 30 year fixed rate mortgage:

$500,000 mortgage, 5% rate

$500,000 mortgage, 4.50% rate, 2 discount points

For how long must the mortgage remain in effect for you to choose the lower rate and pay the discount points

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