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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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