Mortgage Rates are Low, but so are Re-Fi's

Even though mortgage rates are near half-century lows, millions of homeowners that could cut their rate by 1 percent or more aren't taking advantage of the savings, according to Credit Suisse found in a recent study. The bank found that about 37 percent of all borrowers with 30-year conforming fixed-rate mortgages, collectively holding $1.2 trillion in home loans, have mortgages of 6 percent or higher. Many could reduce their loans by 1 percent or more.