In spite of declining house prices and tightening credit, Americans are continuing to pull cash out of their homes according to Freddie Mac's Cash-Out Refinance Report for the fourth quarter of 2007, but in fewer numbers and much lower amounts than recorded even one quarter earlier. 81 percent of Freddie...
What a fascinating and tumultuous time is upon us! Both the housing and the mortgage market are convulsing wildly! There are so many facets to the "big picture" that I would never presume have all the answers, so the following disclaimer is in order: I am a mortgage broker and the following is my opinion...
Posted to
MND NewsWire
by
Glenn Setzer
on
Thu, Nov 1 2007
Filed under:
Filed under: housing bubble, home builders, home prices, Freddie Mac, adjustable rate mortgage, Fannie Mae, Conforming Loan, lending standards, mortgage lenders, home equity, underwriting, mortgage backed security, alternative loans, credit rating, real estate boom
Declining home sales and prices have not succeeded in discouraging homeowners from pulling equity out of their homes according to Freddie Mac's quarterly refinance review for the first quarter of 2007. The corporation reported that 82 percent of Freddie Mac-owned loans that were refinanced during the...