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Borrowers inching back into Cash-Out Refinancing

Friday, May 1, 2015

The first quarter of 2015 was the third in a row that more than half of the refinances funded through Freddie Mac were cash out transactions.   The company said that 27 percent of its refinancing loans were cash out compared to 27 and 28 percent in the third and fourth quarters of 2014 respectively.  In the first quarter of last year cash-outs represented 17 percent of the total.

The net dollars of home equity withdrawn in the quarter during refinance of conventional prime-credit home mortgages was estimated at $7.7 billion, down slightly from the fourth quarter.  This pales in comparison to the $84 billion in equity withdrawn in the second quarter of 2006, a year when 89 percent of refinancing was cash out.


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You have been awesome to work with from the beginning and between you, mike, and holly, this whole process has really been quite easy. I would imagine that is not the case for everyone so again, thank you so much for being so helpful each and every step of the way.
Ryan and Kelsey