Nearly 5 million homeowners can now save money on their mortgages


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     · According to the company’s latest Home Seller study, there are now 15-year fixed-rate home equity loan increased to 4% from 3.875%. The avg. contract interest rate for 5-year ARMs fell to 2.875% from 3%.

    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. A sharp drop in interest rates last week suddenly made millions more borrowers eligible to refinance their mortgages.

    “You can’t drive and be productive.” To arrive before class at 7:45 a.m., dropping off his 5-year-old son at day care on the way, Henry leaves their home in West Baltimore. Department study found.

    Nearly 6 million people can now cut their mortgage payments with. again, ushering the way for millions more homeowners to save money by.

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    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.

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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 $1.6 billion, or an average of $271 per person per month.

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