As coronavirus fears drive down interest rates, borrowing costs for potential homeowners have sunk to their lowest going back nearly half a century. So reports Business Insider.

Black Knight estimates that there are 11.1 million refi candidates. The firm 30-year mortgage holders with 720+ credit score, 80% max LTV and who can shave at least .75% off their first lien rate as refi candidates.
Black Knight bases its analysis off of the Freddie Mac PMMS 30-year average, which came in at 3.45% last week.

The First American Loan Application Defect Index for January 2020, showed that the frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications decreased by 3% compared with the previous month.