- There are now about 5.9 million borrowers who could see their rates drop by at least 75 basis points by refinancing their mortgages. That is an increase of 2 million in just the past month, according to Black Knight, a mortgage software and analytics company.
- That is the largest population of eligible candidates in nearly three years and represents an aggregate of $1.68 billion in potential monthly savings. Per borrower, the savings is about $271 per month.
- The average rate on the popular 30-year fixed has fallen from a recent high of 4.23% on May 21st to 3.94% now, according to Mortgage News Daily.
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