Refinance Report.pdf

201902-RefinanceRept-201804Q-02.pdf
Preview of Refinance Report
🔗 Source: freddiemac.com
📊 Size: 241 KB
📄 Pages: 5 pages
⬇️ Downloads: 146

Summary

U.S. households own $25 trillion in real estate and have $10 trillion in mortgage debt, resulting in $15 trillion in net homeowner equity. In the fourth quarter of 2018, 83% of conventional refinance loans were cash-out refinances, with an estimated $14.8 billion in net home equity cashed out, down from $20.4 billion a year earlier. Borrowers used the extra funds to pay off other bills or debt (40%), home repairs and construction (31%), savings (14%), and buying a new car (9%). More than 95% of refinancing borrowers chose a fixed-rate loan, and the cash-out share of refinances was over 60% in all 22 large metropolitan areas included in the report.

Description

U.S. households own $25 trillion in real estate and have $10 trillion in mortgage debt, resulting in $15 trillion in net homeowner equity.

Technical Information

  • File Format: PDF
  • File Size: 241 KB
  • Pages: 5
  • Language: EN
  • Total Downloads: 146
  • Last Updated: 1 day ago

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