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Real Estate & Property Law

: Housing Wire

Q1 Refis Cut $2.5 Billion off Mortgages

By JACOB GAFFNEY

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Statistics released by Freddie Mac show that in Q109 half of the borrowers who refinanced their mortgages lowered their annual interest rates by at least 20%. On a $200,000 loan, the average monthly payment lowered by $160. According to economists at the firm, the monthly savings adds up to about $2.5bn in extra spending cash [...]

Full post as published by Housing Wire on April 30, 2009 (boomark / email).

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