1M homeowners missed refinance opportunity

refinancing boom

refinancing boomRealtorMag

About 1.4 million homeowners missed out on refinancing their mortgages when interest rates were lower, according to a new study by real estate data firm Black Knight. But the opportunity to take advantage of historically low rates hasn’t evaporated for everyone.

In just the last 40 days, rate hikes for the 30-year fixed-rate mortgage have cut the population of borrowers with the incentive to refinance by nearly 40 percent, according to the report. The 30-year mortgage averaged 4.43 percent for the week ending March 1, about a half percentage point higher than it was at the start of the year, Freddie Mac reports. Refinancing doesn’t always make sense for a homeowner. Borrowers should also consider the amount of equity they have, their creditworthiness, and how much longer they plan to stay in their house.

READ ON:

Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories

Top 10 multifamily builders for 2022

By Ranking Arizona | AZ Big Media Here are the Top 10 multifamily builders in Arizona, based on public voting for the 2022 edition of Ranking Arizona, the state’s biggest and most comprehensive business

Read More »