Go to the St. Louis Federal Reserve FRED database, and find data on the 30-year conventional mortgage
Question:
a. What are the mortgage rates reported for the most recent week of data available?
b. If the principal payment for a given month were $2000, then what would be the interest payment per month (using simple interest) for each of the mortgage types, using the most recent week of data?
c. Over a one-year period, how much would the difference in interest payments between the two mortgage types amount to?
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Step by Step Answer:
a For the week of Thursday June 5 2014 the 30year fixed rate mortgage w...View the full answer
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Related Book For 
The Economics of Money Banking and Financial Markets
ISBN: 978-0133836790
11th edition
Authors: Frederic S. Mishkin
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