Michelle is working with her mortgage lender on the terms of her new $310000 30-year, fixed-rate mortgage. The lender offers a rate of 4.5% APR with no points (monthly payment $716) and 4.25% with one point (monthly payment $702). If Michelle plans to live in the house for 5 years, does it make sense for her to pay the point? No, 18 years is breakeven. Yes 6 months is breakeven. No. 22.1 years is breakeven. Yes, 22 months is breakeven. Michelle is working with her mortgage lender on the terms of her new $310000 30-year, fixed-rate mortgage. The lender offers a rate of 4.5% APR with no points (monthly payment $716) and 4.25% with one point (monthly payment $702). If Michelle plans to live in the house for 5 years, does it make sense for her to pay the point? No, 18 years is breakeven. Yes 6 months is breakeven. No. 22.1 years is breakeven. Yes, 22 months is breakeven