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. 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 [.]

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 · If you don’t plan on using the extra investment money in the next five years, you can potentially earn more money than the interest you will pay on a 15-year or 30-year mortgage. You will have higher monthly expenses for a longer timeframe but you may have a larger net worth in retirement.

 · 0 Nearly 5 million homeowners can now save money on their mortgages – CNBC. Nearly 5 million homeowners can now save money on their mortgages CNBC. A sharp drop in interest rates last week suddenly made millions more borrowers eligible to refinance their mortgages.

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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 man places a bank owned sign on top of a for sale sign in front of a foreclosed home on in Miami, Florida, back in 2011. Nearly 7.8 million homes went into foreclosure between 2007 and 2016.

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 · By the time Araya and accomplices Michael Henderson and Jen Seko were arrested, they had stolen at least $11 million, authorities said. And for many homeowners, by the time they figured out that the money being sent was not going to pay their growing debt, it was impossible to save their.

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.