Nearly 5 million homeowners can now save money on their mortgages

Nearly 5 million homeowners can now save on their mortgages Posted by: moneycentralmsn in MSN Money A sharp drop in interest rates last week suddenly made millions more borrowers eligible for a mortgage refinance.

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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

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“Shouldering more than $1.5 trillion in U.S. student loan debt 1, it’s no surprise that young adults are looking for ways to save money as. has caused nearly one in three young millennials to delay.

On a $300,000 mortgage a refinance from 4.81 percent to 4.06 percent would save the homeowner about $133 per month. On a $600,000 loan,

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.

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 [.]

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 · According to the company’s latest home seller study, there are now roughly 12.1 million homeowners preparing to sell their homes. Of this total, about 16% aim to sell within the next 18 months.