More than half of borrowers have 30% or more equity,

Are Owners Losing Out by Not RefinancingRecent reductions in the 30-year fixed-rate mortgage could net the population of 
borrowers big savings if they would refinance, according to Mortgage Monitor Report. "Before the most recent reductions in the average 30-year mortgage interest rate, approximately 6 million borrowers met broad-based 'refinancibility' criteria," says Trey Barnes, Black Knight's senior vice president of Loan Data Products. "More than half of all borrowers have 30 percent or more equity, a level not seen in nearly eight years," This is a relatively conservative assessment, though, as those with current rates of 4.25 percent to 4.5 percent could arguably benefit from refinancing as well, read more.