Refinancing Since interest rates have dropped, you consider refinancing your mortgage at a lower 68 rate. If you took out a new 30 year mortgage at 68 for your remaining loan balance, what would your new monthly payments be? Question 10 Qi./2 pts D3 (1) Details How much interest will you pay over the life of the new loan? Question 11 E o/1 pt 03 (1) Detalls Analyzing the refinance Notice that if you refinance, you are going to be making payments on your home for another 30 years. In addition to the 10 years youve already been paying, thats 40 years total. How much will you save each month because of the lower monthly payment