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Nearly 5 million homeowners can now save money on their mortgages A sharp drop in interest rates last week suddenly made millions more borrowers eligible for a mortgage refinance.

Nearly 6 million people can now cut their mortgage payments with refinancing. of homeowners can refinance their mortgages and save money.. that 5.9 million people potentially can save money.

The average rate on a 30-year fixed-rate loan has dropped to just. About 6.8 million homeowners could now qualify for a refinance and save around. 5 Innovations Changing The Future Of Food · 30 Under 30 2019. nearly every mortgage loan originated in 2018 could see a rate drop via refinancing.

The recent drop in rates means that 5.9 million people can potentially save money by refinancing their existing home loans and securing a lower rate — two million more than last month, according.

 · The recent drop in rates means that 5.9 million people can potentially save money by refinancing their existing home loans and securing a lower rate – two million more than last month, according to a new report by Black Knight. The combined savings totals .6 billion, or an average of $271 per person per month.

A sharp drop in interest rates last week suddenly made millions more borrowers eligible for a mortgage refinance.

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A staggering number of American homeowners remain under water on their mortgages a decade after the housing bubble burst. Almost 4.5 million households — or 9.1 percent — owed more than their homes are worth in the fourth quarter of 2017, according to data firm Zillow, with an estimated 713,000 owing at least twice as much as their property’s value.

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American homeowners are missing out on at least $13 billion a year by not refinancing their mortgages, according to a NerdWallet analysis of mortgage loan data from Black Knight Financial Services.

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