Nearly 5 million homeowners can now save money on their mortgages

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Nearly 5 million homeowners can now save money on their mortgages. That is a nearly 50 percent increase in the size of that population in a single week.. A sharp drop in interest rates last.

Nearly 5 million homeowners can now save money on their mortgages April 1, 2019 admin real estate Comments Off on Nearly 5 million homeowners can now save money on their mortgages A sharp drop in interest rates last week suddenly made millions more borrowers eligible to refinance their mortgages.

 · Millions of homeowners could now save each month on their mortgage payments, according to a new report. That’s because they’re suddenly “in the money” to refinance as a result of a.

63% of Millennials Regret Buying a Home  · The answer, absolutely. A shorter term mortgage-15 years versus 30 years-is one of the best ways to reduce mortgage debt and can save you thousands of dollars in interest payments.

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 · A sharp drop in interest rates last week suddenly made millions more borrowers eligible to refinance their mortgages. With the average rate on the 30-year fixed now close to 4 percent, 4.9 million borrowers could likely qualify for a refinance that could reduce their interest rates by at least three-quarters of a percentage point, according

 · Lenders and their investors make their money through origination fees that can top $15,000 with fees and mortgage insurance, and by charging interest on.

With rates coming down, borrowers can not only save money through a refinance, but more borrowers are likely to be eligible. Appraisals have been an issue in the housing market for buyers and refinancers. home prices inflated so quickly that some appraisals were not keeping up. Now that home prices are cooling, that is the case less often.

That is a nearly 50 percent increase in the size of that population in a single week. On a $300,000 mortgage, a refinance from 4.81 percent to 4.06 percent would save the homeowner about $133 per month.

Nearly 5 Million Homeowners Can Now Save Money On Their Mortgages. A sharp drop in interest rates last week suddenly made millions more borrowers eligible to refinance their mortgages.. That is a nearly 50 percent increase in the size of that population in a single week.

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