Refinancing Surges As Homeowners Pull
Out The Most Cash in 12 Years.
Refinance lending has nearly doubled over the past three quarters, according to Black Knight. Cash-out refinances were up 24% since the last quarter of 2018 and made up 52% of all refinances. Homeowners withdrew a collective $36 billion in home equity, the highest amount in nearly 12 years.
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Market News
3:53 PM ET
Investors stepping in to buy the dip in equities as the major indices pare losses. Mortgage Bonds at session lows. Treasuries up modestly. 10-yr yield inches higher to .67%. Be on guard.
1:10 PM ET
At midday, stocks plunge but Mortgage Bonds flat. Treasury prices inch higher, 10-yr yield .66%. Lock down fears hurt stocks.
11:04 AM ET
Fed's Kaplan says low rates will need to be here for
2.5 - 3 years.
