By Holden Lewis of NerdWallet Published July 13, 2019 Personal Finance NerdWallet.com Facebook Twitter Comments Print video MBS Highway CEO on mortgage rates: We’re going to see the lowest rates we have ever seen MBS Highway founder & CEO Barry Habib gives his take on the U.S. housing market and explains why Americans should refinance their homes. Mortgage rates have fallen so much lately that millions of homeowners might benefit by refinancing — even if they bought a home just last year. A typical refinancer could save more than $150 a month. Continue Reading Below Some homeowners have gotten the message: Refinance applications have almost doubled compared to a year ago, according to the Mortgage Bankers Association. But many homeowners might be unaware that mortgage rates have declined so dramatically that they could save money by refinancing. MORE FROM FOXBUSINESS.COM IT’S PEAK MOVING SEASON: SHOULD YOU RENT OR BUY? TOP 10 CITIES WHERE PEOPLE ARE SPENDING THE MOST ON HOUSING COSTS: REPORT Many potential refinancers One rule of thumb says to consider refinancing if you can cut the mortgage rate by three-quarters of a percentage point. By that measure, 5.9 million homeowners could benefit by refinancing into today’s mortgage rates, according… Read full this story
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