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Cash-Out Refi Surge and Affordability Questions as Prices Rise
Monday, February 1, 2016
Black Knight Financial Services took close-up looks at both
home affordability and the recent surge in cash-out refinancing in its new Mortgage Monitor released on
Monday. The publication reflects data
through the end of December 2015.
The company said that there have now been 43 consecutive
months of annual home price appreciation, causing it to revisit the question of
affordability. Its analysts used
national medians for home prices and household income levels and found the
mortgage payment-to-income ratios still favorable by historic standards.
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