A new report shows that as many 4.5 million homeowners could benefit financially by refinancing their properties at today’s mortgage rates. The savings? As much as $400 or more per month. Surprised? Don’t be. Home loan rates are still near historic lows. In fact, rates have been so favorable for so long that many homeowners don’t realize just how attractive today’s mortgage rates are. In the early 1970s, for example, mortgage rates were in the 7 percent to 8 percent range. In the early 1980s, mortgage rates rose to more than 18 percent! In the 1990s, mortgage rates ranged from around 7 percent to more than 10 percent. Rates didn’t start dipping into historically low territory until around 2012. Low mortgage rates make it an attractive time for some families to buy or to refinance their home loans. Many people still have higher-rate mortgages and refinancing could make sense for them, both as a way to lower the amount they pay each month and/or to eliminate mortgage insurance. Questions about refinancing? Visit a PRMI office near you.