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Suppose that inflation is 2%. According to the data given in the article, what is the new real rate of interest on a 30-year mortgage

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Tundexi

Answer:

1.56%

Explanation:

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Real rate is the excess of nominal rate over inflation rate. (i.e Nominal rate - Inflation rate).  So, the new real rate of interest on the 30-year mortgage = Nominal rate - Inflation rate = 3.56% - 2% = 1.56%

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