Page 10 - ரெட்ஃபின் கார்ப் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Cash-Out Refinancings Hit Highest Level Since Financial Crisis 03/11/2021 | 05:44am EDT Send by mail : Message : By Orla McCaffrey Americans extracted more cash from their homes through cash-out refinancings in 2020 than in any year since the financial crisis. U.S. homeowners cashed out $152.7 billion in home equity last year, a 42% increase from 2019 and the most since 2007, according to mortgage-finance giant Freddie Mac. It was a blockbuster year for mortgage originations in general as well: Lenders churned out more mortgages than ever in 2020, fueled by about $2.8 trillion in refis, according to mortgage-data firm Black Knight Inc. Some borrowers viewed cash-out refis as a way to cushion themselves against an uncertain economy last year. Others wanted to build and redecorate, and being stuck at home gave them the time to do the paperwork. Homeowners also had more equity available to tap: Though home prices tend to fall during economic downturns, they jump

New yorkUnited statesFreddie macEric henningWendi comelloSusan wachterOrla mccaffreyTodd kennedyDaryl fairweatherFederal reserve bankKnight incCooper group incRedfin corpUniversity of pennsylvaniaHousing administrationBlack knight