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Nearly 5 million homeowners can now save money on their mortgages

Fixed-rate mortgages are the most classic form of loan for home and product purchasing in the United States. The most common terms are 15-year and 30-year mortgages, but shorter terms are available, and 40-year and 50-year mortgages are now available (common in areas with high priced housing, where even a 30-year term leaves the mortgage amount out of reach of the average family).

Nearly 5 million homeowners can now save money on their mortgages. That is a nearly 50 percent increase in the size of that population in a single week.. A sharp drop in interest rates last.

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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 sharp drop in interest rates last week suddenly made millions more borrowers eligible to refinance their mortgages.

Michigan ranks among the top five states in the country with eligible homeowners who could tap into a money-saving federal program offering refinancing relief. Now is the time to make a move..

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The average rate on a 30-year fixed-rate loan has dropped to just. About 6.8 million homeowners could now qualify for a refinance and save around $270. All Money · Banking & Insurance · Crypto & Blockchain · ETFs. nearly every mortgage loan originated in 2018 could see a rate drop via refinancing.

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 · Nearly 5 million homeowners can now save money on their mortgages April 1, 2019 | Diana Olick, NBR, CNBC.com A sharp drop in interest rates last week suddenly made millions more borrowers eligible to refinance their mortgages.

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Nearly 5 million homeowners can now save money on their mortgages Posted on April 1, 2019 by Josh Brown A sharp drop in interest rates last week suddenly made millions more borrowers eligible to refinance their mortgages.