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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: russwinter who wrote (54631)2/24/2006 1:57:46 PM
From: ild  Respond to of 110194
 
<<<80% of all mortgage refis resulted in more than 5% cash outs.>>>

HELOCS were flat in 2005, so people had to refinance first mortgage to get some cash. My point that this chart (and other charts in yesterday's CI) idorfman.com actually greatly understate MEW as they don't account for HELOCs that were the main MEW vehicle in 2003-2004.
This chart shows less than $250Bln in MEW.
idorfman.com
I recall Greenspan's study said it was about $600 Bln per year.


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