More than 80 percent of borrowers who refinance their mortgages through Freddie Mac aren't taking cash-out options, according to recent data.
The government-sponsored enterprise released its second quarter data on Aug. 1, showing that 81 percent of homeowners who refinanced their first-lien home mortgage chose to either keep the loan amount constant or lower the principal balance by putting cash down. In the first quarter, 79 percent of borrowers maintained or lowered their mortgage balance.
When comparing the net home equity borrowers have converted to cash through refinancing in Q2 2012 (an estimated $5 billion) to previous figures (0 comments)