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Carol has had a $145,000 fixed mortgage for 5 years at 5.5% and is considering refinancing. She can now get an 80/20 mortgage with 4.5% and 9.5% interest, respectively. Based only on this information,
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1 vote
Carol has had a $145,000 fixed mortgage for 5 years at 5.5% and is

considering refinancing. She can now get an 80/20 mortgage with 4.5% and
9.5% interest, respectively. Based only on this information, should she
refinance?

User Thomas Guillory
by
3.5k points

2 Answers

4 votes

Answer:

no, the new blended rate is higher than the old interest rate

Explanation:

bc i said so

User Mamunur Rashid
by
3.4k points
4 votes

Answer: no the two blended interest rates are the same

Explanation:

User Rjamestaylor
by
3.3k points
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