Items Tagged with 'Cash-out refi'

ARTICLES

  • Harvard: Americans have more equity, less mortgage debt

    Equity levels double in last 7 years
    Americans now have nearly as much home equity as they did when levels peaked before the housing crisis, according to a recent study on the state of the nation’s housing market from Harvard’s Joint Center for Housing Studies. The report shows aggregate home equity climbed from $7 trillion in 2011 to $15.5 trillion in 2018.
    Read More
  • More borrowers are raising their mortgage rate to cash out equity

    Cash-outs comprise greatest share of refinances since 2006 peak
    For several months now, cash-out refinances have been eating up a greater share of overall refi volume, and it appears the trend isn't about to slow down anytime soon. The latest report from Black Knight reveals that 82% of refinances originated in Q4 2018 were cash-outs, and that in two-thirds of these transactions, the borrower raised their mortgage rate in order to access their equity in cash.
    Read More
  • [Op-ed] How to decide between a HELOC and a cash-out refinance

    Here are some variables to consider when thinking about accessing your equity
    Home equity loans are on the rise with interest rates convincing more homeowners to stay put, and studies predict this trend isn’t about slow down anytime soon. But if a homeowner is considering using some of their equity, how do they decide between a line of credit and a cash-out refinance? Here are some significant variables to consider.
    Read More
  • Overall share of equity withdrawals drops to 4-year low

    Just over 1% of available equity was tapped last quarter
    American homeowners have record amounts of equity in their homes, $5.8 trillion to be exact. But the percentage of tappable equity withdrawn fell in the first quarter of 2018 to the lowest share in four years as higher interest rates impact borrowers' decisions.
    Read More
  • For loan officers who want steady business in 2018, it’s time to embrace cash-out refinances

    Lenders hoping to boost their refi business this year need to change the way they sell
    Remember when it was easier to sell homeowners on refinances? Mortgage interest rates were low enough that most owners could save money each month with a traditional rate and term refinance. As interest rates have risen, that has changed and lenders hoping to boost their refi business this year need to change the way they sell. Instead of promoting the savings homeowners can get from lower interest rates, they may consider trying a new angle...
    Read More
  • Tappable mortgage equity hit all-time high in 2017

    More than 80% of borrowers now have equity available
    The amount of tappable mortgage equity increased in 2017 to an all-time high. In fact, Black Knight’s latest report shows currently, more than 80% of all mortgage holders now have available equity to tap via cash-out refinances or HELOCs.
    Read More