Is it a race against the clock? A mortgage refinancing spree is here
Some 2.43 million homeowners can reduce their mortgage interest rate by refinancing, according to a recent mortgage report by Black Knight, a mortgage data and analytics company. One such way to do this is through cash-out refinancing, an increasingly popular way for homeowners to draw equity from their homes while lowering their interest rate. Refi applications have […]
When Is a Cash-Out Refinance Loan a Good Idea?
When using a cash-out refinance to pay off debt, make sure you are not at risk of running up that debt again. In a cash-out refinance mortgage, you take a loan against your home in excess of what you owe, leaving you with cash available to spend. Adding to the debt against your home could […]
Is Housing Sentiment Still Optimistic?
While Americans still feel it is a good time so sell a home and an okay time to purchase one, in June at least, they were feeling a little edgy about their job security. Fannie Mae says its Home Purchase Sentiment Index, a measure based on results from the National Housing Survey (NHS), declined last […]
5 reasons why homeowners are tapping into their home equity
Rising home values and interest rates have more homeowners turning to home equity products to meet their personal funding needs. At the beginning of 2018, most borrowers interest in home equity was dinged by the confusion over whether tax reform would totally or partially remove the interest deductibility. Since the IRS clarified what is deductible, […]