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
10:01 AM ET
January Consumer Confidence at 89.3 from 88.6 in December.
9:05 AM ET
The S&P Case-Shiller 20-City Home Price Index up 9.1% annually, up 9.5% in its National Index.
8:19 AM ET
Mortgage Bonds open modestly lower while the 10-yr yield is unchanged at 1.04%. Stock futures mixed. WTI oil at $53.03/barrel, +$0.27. S&P Case Shiller Home Price Index and Consumer Confidence set to be released. The Treasury will sell $61B 5-yr notes, results just after 1:00 p.m. ET.
