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Monday, February 23, 2026

Millions of Homeowners Could Refinance and Save Money: Why Don’t They?

Courtesy of Mish.

According to Black Knight’s April “Mortgage Monitor” millions of homeowners could refinance their mortgages and save money.

Yet, despite interest rates hovering near 3-year lows, prepayment speeds, historically a good indicator of refinance activity, fell in April.

The April “Mortgage Monitor” builds on March analysis of refinance candidates. Here is the pertinent chart from last month.

Refinance Candidates

refinance Candidates.

Roughly 2.3 million people could refinance their mortgages and save money doing so. That assessment was based on an FHLMC Mortgage Rate of 3.58% on April 14.

A quick check shows the rate is still 3.58% as of May 19.

Apparently people do not want to save money.


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