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Cash Out Rate Rises Sharply.(Brief article)
McLean, VA -- In the first quarter, 88% of the homeowners who refinanced their homes got a mortgage at least 5% larger than the original loan, the highest such percentage since the third quarter of 1990, according to Freddie Mac.
The percentage was up from 81% in the previous quarter and much higher than the 64% level recorded a year earlier, the government-sponsored enterprise said in its quarterly refinance review.
"The share of all mortgages that were for refinance fell ...
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Source: HighBeam Research, Cash Out Rate Rises Sharply.(Brief article)