Black Knight on The ‘Refi Revival’
07
Mar
http://www.mortgagenewsdaily.com/03072016_black_knight_mortgage_monitor.asp
Mar 7 2016, 10:45AM
The sharp drop in interest rates that began 2016 has had a very real impact on the so-called “refinanceable” population of homeowners. Black Knight Financial Services says that the 30 basis point decline the market experienced in the first six weeks of the year increased the numbers of those who potentially could qualify and benefit from refinancing by 30 percent, to 6.7 million potential borrowers. If they decided to act they could save $20 billion per year, an average of $3,000 per homeowner. Black Knight bases its estimate on the number of existing mortgages with rates in the 4.5 percent range.
