Information about the mortgages market rates

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Mortgage Rates: You have been hired as a bank loan consultant by MIAMI-BANK and they want your input in setting loan rates for new Ten-year mortgages. Based on what you have learnt in this course, construct a numerical example, and explain, how you would determine the new mortgage rate? You need to write and use the formula that you need to compute the interest portion of the new Ten-years mortgage payment in any given month. You can obtain information about the mortgages market rates from the S&P index.

Reference no: EM132611102

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