Home
What's new
Latest activity
Authors
Store
Latest reviews
Search products
Forums
New posts
Search forums
What's new
New posts
New listings
New products
New profile posts
Latest activity
Members
Current visitors
New profile posts
Search profile posts
Log in
Register
Cart
Cart
Loading…
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Search titles only
By:
Menu
Log in
Register
Navigation
Install the app
Install
More options
Change style
Contact us
Close Menu
Forums
SVTPerformance's Chain of Restaurants
Road Side Pub
Cash Out Mania Is Back
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Weather Man" data-source="post: 16741874" data-attributes="member: 137766"><p>Kind of a flashing red light to me.</p><p></p><h3><a href="https://seekingalpha.com/news/3810236-cash-out-mortgage-refinancing-hits-16-year-high-black-knight-report-says?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain" target="_blank">Cash-out mortgage refinancing hits 16-year high, Black Knight report says</a></h3><p>Mar. 07, 2022 10:48 AM ET</p><p>Cash-out refinancing of mortgages<a href="https://seekingalpha.com/pr/18698855-black-knight-record-4_4-trillion-in-mortgage-originations-in-2021-year-sees-1_2-trillion-in" target="_blank"> reached $1.2T, a 16-year high</a>, in the U.S. last year even as overall refinance orginations fell 34%, according to Black Knight's Mortgage Monitor report.</p><p>The cash-out refi activity came within 1% of the all-time high as homeowners tapped $275B in equity over the course of 2021. And the $80B in equity tapped in Q4 2021 marked the largest quarterly volume in 15 years, as more than 1M homeowners withdrew equity through cash-out refinancing for the fifth straight quarter, Black Knight said.</p><p>Rate/term refinancing dropped a whopping 60% to $2.7T.<a href="https://static.seekingalpha.com/uploads/2022/3/7/saupload_refi.png" target="_blank"><img src="https://static.seekingalpha.com/uploads/2022/3/7/saupload_refi_thumb1.png" alt="" class="fr-fic fr-dii fr-draggable " style="" /></a></p><p>Total originations of $4.4T in 2021, outpaced the prior record with purchase lending of $1.7T hitting its highest point ever.</p><p>Black Knight's Optimal Blue rate lock data show that cash-out activity continued to increase in the first month of 2022.</p><p>Retention rates for cash-out refinancing remained a weak point. Mortgage servicers saw overall retention rates reach an eight-year high last year. But the cash-out retention rate was 8 percentage points lower than for rate/term refis.</p><p>On average, borrowers that changed lenders received rates just 5 basis points lower than those retained, indicating that, while rates are important, pricing isn't the only factor to keeping customers.</p><p>In January, Freddie Mac's forecast expects the housing market to "remain stable"<a href="https://seekingalpha.com/news/3790350-freddie-mac-expects-housing-to-remain-stable-in-2022-even-as-mortgage-rates-rise" target="_blank"> this year even as mortgage rates rise.</a></p></blockquote><p></p>
[QUOTE="Weather Man, post: 16741874, member: 137766"] Kind of a flashing red light to me. [HEADING=2][URL='https://seekingalpha.com/news/3810236-cash-out-mortgage-refinancing-hits-16-year-high-black-knight-report-says?source=content_type%3Areact%7Cfirst_level_url%3Amarket-news%7Csection_asset%3Amain']Cash-out mortgage refinancing hits 16-year high, Black Knight report says[/URL][/HEADING] Mar. 07, 2022 10:48 AM ET Cash-out refinancing of mortgages[URL='https://seekingalpha.com/pr/18698855-black-knight-record-4_4-trillion-in-mortgage-originations-in-2021-year-sees-1_2-trillion-in'] reached $1.2T, a 16-year high[/URL], in the U.S. last year even as overall refinance orginations fell 34%, according to Black Knight's Mortgage Monitor report. The cash-out refi activity came within 1% of the all-time high as homeowners tapped $275B in equity over the course of 2021. And the $80B in equity tapped in Q4 2021 marked the largest quarterly volume in 15 years, as more than 1M homeowners withdrew equity through cash-out refinancing for the fifth straight quarter, Black Knight said. Rate/term refinancing dropped a whopping 60% to $2.7T.[URL='https://static.seekingalpha.com/uploads/2022/3/7/saupload_refi.png'][IMG]https://static.seekingalpha.com/uploads/2022/3/7/saupload_refi_thumb1.png[/IMG][/URL] Total originations of $4.4T in 2021, outpaced the prior record with purchase lending of $1.7T hitting its highest point ever. Black Knight's Optimal Blue rate lock data show that cash-out activity continued to increase in the first month of 2022. Retention rates for cash-out refinancing remained a weak point. Mortgage servicers saw overall retention rates reach an eight-year high last year. But the cash-out retention rate was 8 percentage points lower than for rate/term refis. On average, borrowers that changed lenders received rates just 5 basis points lower than those retained, indicating that, while rates are important, pricing isn't the only factor to keeping customers. In January, Freddie Mac's forecast expects the housing market to "remain stable"[URL='https://seekingalpha.com/news/3790350-freddie-mac-expects-housing-to-remain-stable-in-2022-even-as-mortgage-rates-rise'] this year even as mortgage rates rise.[/URL] [/QUOTE]
Insert quotes…
Verification
Post reply
Forums
SVTPerformance's Chain of Restaurants
Road Side Pub
Cash Out Mania Is Back
Top