Marketplace chaos: A present for mortgage refinancers?
The chance came from the tumult that grabbed financial markets and sent stock prices and bond returns tumbling. Rates on long term mortgages often monitor the 10-year Treasury yield, which dropped below 2 percent for the very first time since May 2013.
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The fall in mortgage rates created a frenzy of refinancing. If you jump in?
Today, almost 11 percent of borrowers with a 30-year, fixed-rate mortgage have rates above 5 percent and sound credit, meaning 4.4 million borrowers could profit from the present rates, according to an investigation by Black Knight Financial Services.
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