Borrowers Who Refinanced In First Quarter Will Lower Their Interest Expense An Aggregate $2 Billion Over The Coming Year

Median Borrower Reduced Interest Rate by 16 Percent. McLean, VA – April 29, 2010 – (RealEstateRama) — In the first quarter of 2010, one-half of borrowers who refinanced their conventional loan lowered their mortgage interest rate by at least 16 percent according to Freddie Mac’s quarterly Refinance Report. The new interest rate was 0.9 percentage points or more below the old rate for one-half of borrowers