Now today, the standard mortgage, which you would probably get when you buy your first house, is not fifteen or twenty--it's thirty years.

今天,标准的抵押贷款,当你买第一套房子时你或许就能得到,期限不是15或者20年,而是30年

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When you first bought the house they told you what the mortgage payment was and they're fixing that forever, well for thirty years.

最初你买这套房子的时候,他们已经告诉你每月偿还额是多少,在未来30年里这是固定的

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A peculiar property of this is that the mortgage balance falls slowly at first and then it gradually picks up; it's just a property of this formula.

其中一个特别的性质是,刚开始抵押贷款余额降得很慢,渐渐的,越降越快,这就是这个公式的性质

耶鲁公开课 - 金融市场课程节选

So, that's a funny property of conventional mortgages -that the mortgage balance declines very slowly at first and then it falls rapidly when it comes to maturity.

这是普通贷款很有意思的特性,即贷款余额在起初减少的非常缓慢,但随着到期日的临近,便会加速递减

耶鲁公开课 - 金融市场课程节选