Stulz, René M. (contributor) - 2004 - [Elektronische Ressource]
payments to a counterparty, say a bank, equal to a
fixed interest rate applied to $200,000. In exchange, the bank would pay … from the bank to make your mortgage payments. The only payments
you would make out of your own pocket would be the fixed … interest payments to the
bank, as if you had a fixed-rate mortgage. Therefore, a doubling of interest rates would
no longer …