Tag Archives: Freddie Mac sees 4Q cash-out refis at 26-year low

“Cash-out” refinances hit a 26-year low in the fourth quarter at Freddie Mac, as more homeowners looked to maintain or lower their mortgage balance. The mortgage giant said Thursday 85% of borrowers refinanced with the same or lower loan balance, a bump up from 82% in the third quarter. That breaks down to 37% who maintained their balance and 49% who lowered it by paying additional money at closing. Cash-out refinances, or balances increased by at least 5%, made up just 15% in the fourth quarter, a sharp drop from […]