General World News

About 7M refi candidates missed the “forever rate” boat

A 40-plus basis point rise in mortgage rates over the past month resulted in approximately 7 million high-quality refi candidates who are no longer able to lock “forever rates,” according to a recent report from Black Knight.

On Feb.11, the mortgage data and analytics provider estimated there were 18.1 million borrowers who met broad-based underwriting criteria and could save at least 0.75% on their mortgage rate through a refi. That was back when rates were as low as 2.73%, which some coined “forever rates” because it is unlikely they’ll be as low details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com