Mortgage Industry News
« Return to Mortgage Industry News
Over 3 Million Refinance Candidates -Black Knight
Monday, July 6, 2015
Despite years of low interest rates an estimated 6.1 million
homeowners could still both qualify for and benefit from a traditional
refinance according to Black Knight Financial Services. Its Mortgage Monitor based on May data, said over 3 million borrowers could
save at least $200 a month by refinancing their existing mortgage and over half
a million could save $500 or more. The
average savings would be $250 per month.
An additional 450,000 borrowers are thought to be eligible for a HARP
(Home Affordable Refinance Program) refinance at an average savings of $300. That program has been extended through the
end of 2016.
Read Full Article