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Home Price Gains Are Not Boosting Borrowing
Posted to: Around The Web
Monday, May 05, 2014 5:35 AM

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While home prices have rebounded strongly over the past two years, there's little evidence that Americans are borrowing from their homes to extract any of their recovered equity, according to a new report. Borrowers with conventional loans pulled just $6.5 billion out of their homes during the first quarter through cash-out refinancing, down from $6.7 billion during the prior quarter, according to a survey released by Freddie Mac. Cash-out refinancing has been lower only in three quarters since mid-2000, and adjusted for inflation, cash-out refinancing in since 2010 has been near its lowest levels since 1997.


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