Why Haven’t 19 Million Homeowners Refinanced Their Mortgages Yet?

Originally published by Jeff Ostrowski on Bankrate.com. As the mortgage refinancing boom rages, millions of homeowners have yet to swap out their old mortgages for new loans at record-low rates. A significant number of Americans are hanging onto 30-year mortgages with rates of 5% or higher. Why are so many homeowners still locked into above-market rates? “The same reason people don’t go to the…

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