Recent Rate Cuts Bolster Refinance Pool

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Posted To: MND NewsWire

Ever since mortgage rates began to move lower, Black Knight has devoted a big portion of its Mortgage Monitor , a monthly report on loan performance and other mortgage issues, to tracking the ebb and flow of the refinanceable loan population. The company defines refinanceable as a loan where the borrower can qualify for a new loan with a credit score of 720 or higher and a maximum of an 80 percent loan to value (LTV) ratio AND could s have at least 75 basis points off of their current loan through refinancing. The company put the refinanceable population at 8.2 million in June. At the end of that month rates stabilized at around 3.75 percent and the most recent Monitor, published this past Monday only mentioned the refinanceable population in passing. But Thursday Freddie Mac’s weekly published…(read more)

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