Many May Be Left Behind In This Round Of Mortgage Refinancing
Not since 2005 have mortgage rates slipped well below 6%. As a result, another mortgage refinancing boom is under way. But this time, many homeowners will be watching from the sidelines.
Experts predict that at these levels, about 37% of homeowners could refinance their mortgages and save money on their monthly payment. And, as rates drop further, increasing numbers of consumers will find refinancing their existing mortgage worthwhile.
Unfortunately, many homeowners won’t benefit from the low mortgage interest rates, either because their mortgage is too big or their credit score is too low. In other cases, falling home prices will make it tough for them to refinance.
search for : mortgage rates, mortgage refinancing, credit score
