Home Equity Loan-The Cash Cow?
This represents an amazing $70.7 billion in cash out refinance loans for the quarter down from the third quarter at $80.2 billion. Refinancing grew to 46 % of all mortgage applications for the period.
The reasons actually are quite simple. Interest rates are at the same level as they were 12 months ago and a 14 month low. The primary mover of refinance continues to be equity extraction. Huge amounts of ARM's are coming due to be readjusted and the rate may be higher than the current ARM-not for long. This results in lower payments in the near term.
The $70.7 billion in cash outs money helps fuel the economy. Major home improvements, college tuition, debt consolidation all are reasons home owners take out home equity loans.
A re-finance cash out makes great sense if the homeowner can get a loan that will lower their monthly payments, especially if the current arm is scheduled to readjust soon. Throw in some extra cash and you have yourself a great deal.
It is no wonder lenders love these loans so much. Mortgagors are willing to pay higher rates now four quarters in a row for the same collateral-your home. In a way it is a classic win-win.
Related Tags: home equity loans, home equity loan refinancing, home equity loan rate, home equity loan rates, equi
You owe it to yourself to get the BEST deal if you are in the market for a mortgage, home equity loan, or refinance. Have lenders fight for your business. GET UP TO 4 FREE NO OBLIGATION RATE QUOTES at =>WWW.H-O-M-E-E-Q-U-I-T-Y-L-O-A-N.COM and =>WWW.M-O-R-T-G-A-G-E-R-A-T-E.COM
Homeowners should check out =>http://WWW.H-O-M-E-S-E-C-U-R-I-T-Y.COM for details on ONE MONTH FREE HOME SECURITY
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- Understand The Fha Guidelines Before Considering Fha Mortgage
The U.S. economy was hit hard by the global financial meltdown. In the housing sector, the crisis is - Basic Facts About Multifamily Apartment Construction Loans
When you make an investment, you surely think of getting something out of it to make the deal profit - Commercial Mortgage Refinance Loan - Ideal Solution For Financial Problems
Financial security is something which we have to plan from before. In life, there is no certainty wh - Free Government Grant Money Eligibility Requirements
All of us hear about free government grant money. But what is involved in obtaining this money? What - Top 10 Tips On Buy To Let Mortgages And Property Hunting
If you are looking for an opportunity to invest your savings or any money you have come into, there - A Few Tips On How To Stop Foreclosure
In case you are facing certain financial catastrophe caused by a loss or relocation of a job, or wha - How To Stop Foreclosure And Lose Your Residence To The Bank
In today's market, there are more and more citizens that get big loans then they use their home as a - Most Excellent Way To Stop Foreclosure - The #1 Blueprint For Saving Your Home
Just what is the best measure to stop foreclosure? No doubt you are browsing for an answer to that q - Act Fast To Stop Foreclosure
If you would like to find out how you can put a stop to foreclosure, there is not much to accomplish - Tips For Buying A Home With No Money
There is a popular belief that you can only buy a home if you have great credit. This is false becau
Most viewed articles in this category:
- Mortgage Refinancing - Rate Caps Protect You When Refinancing With an Adjustable Rate Mortgage
Adjustable Rate Mortgages can save you money when mortgage refinancing if you fully understand how t - 100% Mortgage Loans: What You Need to Know
Coming up with a 20% down payment can be a difficult task for many potential homebuyers. If you are - Home Equity Loan Pitfalls
The home equity loan came of age in 1996 when changes in the tax law eliminated deductions for the i - Mortgage Refinancing: How the Fannie Mae Weekly Yield can Help You Comparison Shop
Mortgage refinancing without knowing Fannie Mae's weekly yield is like buying a used car without kno - How to Pay Off Your Mortgage in 7 Years, Without Extra Payments
One of the most exciting new topics concerning wealth is “How to Pay Off Your Mortgage in - Mortgage Rate Comparison
Trying to get an "apples to apples" mortgage rate comparison can often be quite a hassle. Traditiona - Should I Pay Off My Mortgage Early?
Many people think that real estate debt is good debt. They think that their mortgage is their bigges - Mortgage Refinancing: Beware the Mortgage Vultures
If you are in the process of mortgage refinancing you need to be wary of overpaying for your loan. - Mortage Loans - How Much Does It Actually Cost In The End
Mortgage loans are the loans used to finance most people's first home. It is the big loan that ever - Where To Locate Home Improvement Loan Companies
Where to locate home improvement companies is a question that arises from many different people. Som
