Industry News

More borrowers tap into home equity

Refinancers no longer looking primarily for lower mortgage rates
Published on Feb 4, 2004

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by CareyBot

Borrowers who refinanced during the fourth quarter did so primarily to cash out home equity rather than to secure lower interest rates, according to Freddie Mac’s quarterly refinance review. In the fourth quarter of 2003, 45 percent of Freddie Mac-owned ...