On a fixed rate mortgage the dollars of interest the homeowner pays falls each year the mortgage is outstanding.

Name: On a fixed rate mortgage the dollars of interest the homeowner pays falls each year the mortgage is outstanding.
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In a fixed rate mortgage, the total payment remains the same throughout the term, but the portion that goes towards interest decreases over time as the principal balance is reduced, leading to a decrease in the dollar amount of interest paid each year.

On a Fixed Rate Mortgage the Dollars of Interest the Homeowner