By Jann Swanson
Posted To: MND NewsWire
The number of homeowners who could potentially benefit from refinancing has increased by 3 million in the last year according to Black Knight Financial Services’ April Mortgage Monitor. Interest rates have dropped back in recent month while home prices have continued to rise, growing the pool of borrowers who appear to meet broad-based eligibility criteria for refinancing substantially. Trey Barnes Black Knight’s senior vice president of Loan Data Products, said, “Black Knight looked at the population of borrowers whose current interest rates – as well as credit scores and loan-to-value ratios – mark them as good candidates for refinancing. In February 2014, there were approximately 4.1 million borrowers who could both benefit from and potentially qualify for refinancing their mortgages. Through…(read more)
Via:: Refinance Pool Grows, but Not Among Sub-620 Credit Scores
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