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…

Original Article Posted at : https://www.moneytalksnews.com/why-havent-19-million-homeowners-refinanced-their-mortgages-yet/