Nearly 5 million homeowners can now save money on their mortgages

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 · 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.

Nearly 5 million homeowners can now save money on their mortgages. CNBC – Diana Olick. On a $300,000 mortgage a refinance from 4.81 percent to 4.06 percent would save the homeowner about $133 per month.

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 · The recent drop in rates means that 5.9 million people can potentially save money by refinancing their existing home loans and securing a lower rate – two million more than last month, according to a new report by Black Knight. The combined savings totals .6 billion, or an average of $271 per person per month.

Nearly 5 million homeowners can now save money on their mortgages CNBC – Diana Olick On a $300,000 mortgage a refinance from 4.81 percent to 4.06.

msn back to msn home money.. 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.

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 to Black Knight, a mortgage data and analytics company. That is a nearly 50 percent increase in the size of that population in a single week.

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The recent drop in rates means that 5.9 million people can potentially save money by refinancing their existing home loans and securing a lower rate — two million more than last month, according.

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