The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: patron_anejo_por_favor who started this subject	8/1/2002 8:38:02 AM
From: nextrade!	Read Replies (1) of 306849

Refi cash outs to date, easy money ? Business briefs: Homeowners raise $50 billion in refinancing August 1, 2002 NATIONAL Homeowners raise $50 billion in refinancing U.S. homeowners raised $50 billion by refinancing Freddie Mac-owned mortgages at more than the original loan amount in the first half of 2002, and pumped cash into the economy, the No. 2 buyer of home loans said. About 67 percent of those who refinanced in the second quarter received new mortgages that were at least five percent larger, compared with 58 percent refinancing into higher loan amounts a year earlier. The amount of equity returned to the economy through refinancing is expected to reach $100 billion for the year, down from about $140 billion in 2001. rockymountainnews.com

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