You hope to buy a house and have been saving diligently over the last few years. -
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Question:
You hope to buy a house and have been saving diligently over the last few years.
- House Cost: $500,000
-You have saved 20% downpayment.
-You hope to get a 30 year mortgage.
- 30 year mortgage cost 100 bps above 30 year treasury.
Answer the following questions.
Q-1) Treasury Yield curve as of 12/31/2020 and 05/19/2023. Create a Chart
Q-2) What has happened to mortgage rates : compare rates 12/31/2020 and 05/19/2023? How has that affected you as a borrower?
Q-3) Create an amortization table based on Mortgage rate as of 12/31/2020? (In Excel)
Q-4) Create an amortization table based on Mortgage rate as of 05/19/2023? (In Excel)
Q-5) How has monthly payments changed between 12/31/2020 and 05/19/2023? Comments?
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