Mortgage rates are at a low not seen for many years. Yet many of us are unable to capitalize on the rates by refinancing.
According to The Wall Street Journal approximately 37% of borrowers with 30 year fixed loans have rates 6 percent or higher.
The obstacles to refinancing are significantly lower home values, lower wages and tighter (self imposed) lending requirements. As the article states, the people who can refinance are the ones who need it the least.
Don Grafues
Resource: The Wall Street Journal
Resource: The Wall Street Journal
