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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: Ramsey Su who wrote (21392)11/5/2004 4:38:42 PM
From: russwinter  Read Replies (3) of 110194
 
This refi cash out number is way up from 2003. Contrary Investor has a chart showing refi activity at least 5% greater than original going back to 1985. In the first half of 2003 it was 35-40%. 60% is getting quite high on this number historically. Maybe Ild can post it, 9/11/2003 issue.

From the Freddie news release:

In the third quarter of 2004, 60 percent of Freddie Mac-owned loans that were refinanced resulted in new mortgages at least five percent higher in amount than the original mortgages, according to Freddie Mac's quarterly refinance review. This is in contrast to the second quarter of 2004, when 42 percent of refinanced loans had higher new loan amounts.
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