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Black Knight Sees Future Holding Fewer Refinances, More ARMs

(Mortgage News Daily) - 1 years ago
 Posted To: MND NewsWireThe refinance pool, homeowners who could benefit from exchanging their old first mortgage lien for a new one, is shrinking fast . Black Knight says, in its March Mortgage Monitor , that the pool declined by 40 percent from the beginning of the year through February 15. This happened as the average rate for a 30-year fixed-rate mortgage (FRM), per Freddie Mac, increased by 43 basis points to 4.38 percent. Since then rates have risen more slowly; they closed out last week at...
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