By Andrea Riquier | MarketWatch
The number of people eligible to refinance fell to the lowest since the 2013 taper tantrum in the weeks since the election.
It’s not just bond prices that have swooned since the November election.
The number of homeowners eligible to refinance their mortgages fell 60%, or 5 million, since the end of October, with 700,000 in the last two weeks alone, according to data provider Black Knight Financial Services.
The number of homeowners who are eligible — that is, who have a mortgage with a high enough interest rate and enough equity in their home to benefit from refinancing — hasn’t been this low since the aftermath of the 2013 “taper tantrum,” when rates were about 30 basis points higher.
