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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 refinance their mortgages.
Refinancing could save these homeowners nearly $200 a month.. In the past five years, more than 3 million borrowers who had little or no equity in their. ( Average rate as of last week on a 30-year, fixed-rate mortgage was 4.12. As it now stands, borrowers who took out loans before June 1, 2009, and.
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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 refinance their mortgages. 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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If you borrow a 5/1 ARM, for example, your interest rate would be fixed for five years and. Due to having a lower interest rate, you could save nearly $35 on your monthly. Another way ARMs can provide benefits to homeowners?.. In fact, more than 5 million homeowners are “seriously underwater” on their mortgages.
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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.
Nearly 5 million homeowners can now save money on 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 and.
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.