Compare with the level of prices in new york

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Reference no: EM132038592

You invested in the real estate in Dresden/Germany and bought the house in the center of the city. The banks currently offer a very low-interest rate and you decided to refinance your mortgage. The current monthly payment is $2,100, and there are exactly 22 years left on the loan. The mortgage interest rate on your existing loan is 9% APR. How much do you owe on the mortgage today? Do you think prices are reasonable in Dresden? Compare with the level of prices in New York.

Reference no: EM132038592

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