Refinancings: Down But Not (Cashed) Out
Despite diminished price appreciation, homeowners continued to extract home equity in the first quarter close to the pace of late last year, according to a monthly report issued by Freddie Mac's chief economist. In fact, the refinancing data underscore that prime mortgage markets – supported by Freddie Mac's backstop liquidity in the secondary market – functioned well through what was the most challenging quarter in many years. Continued smooth performance of the mortgage markets will be a critical factor supporting the housing recovery in the months ahead.http://www.freddiemac.com/
No comments:
Post a Comment