Denver Metro Homeowners Could saves big!
Almost about $ 600 Million annually if they refinances their mortgages!
The Denver Metro area homeowners could potentially save almost $600 million a year by refinancing their mortgages into the record-low rates available, according to an analysis by Inside Real Estate News dot COM
While there does appear to be an up tick in refinancing, phones are not ringing off the hook in lender offices. Meanwhile, even the trifecta of good news for home buyers - super-low rates, housing prices well off their peaks, and an increased supply of unsold or pre-owned homes on the market to choose from - have not been driving people to buy homes. In June, the number of homes placed under contract plunged by 31 percent from June 2009
Inside Real Estate News dot COM. used Census Bureau data and national reports to estimate the number of homeowners who could shave 2 percentage points or more off their mortgages. If they all did, it would save them an estimated $597.3 million annually, excluding the costs of refinancing. And the estimate is likely conservative, as some lenders say it makes sense for some homeowners to refinance, even if they could cut their mortgage rate by a half of a percent!
That's definitely very good news for the Denver Metro area! I hope the rest of our will benefits from the low interest rate too!
Go ahead and start the refinancing rolling!
This is just FYI only!
Thanks.
Adam
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