6 8 pts Refinancing a Mortgage You have a Fixed Rate Mortgage with the following terms, which you have paid for 10 years: Rate Principal $700,000 Term (yr) 30 PMT ($3,443.58) 4.25% At the end of year 10, should you pay $4,500 in total points/fees to refinance to a 20 year loan at 4%? 6 8 pts Refinancing a Mortgage You have a Fixed Rate Mortgage with the following terms, which you have paid for 10 years: Rate Principal $700,000 Term (yr) 30 PMT ($3,443.58) 4.25% At the end of year 10, should you pay $4,500 in total points/fees to refinance to a 20 year loan at 4%