Freddie Mac's Economic & Housing Outlook by Chief Economist Frank Nothaft, is now available in MP3 format. Subscribe to the regular feature with Podcast or though iTunes and receive monthly updates on the state of the economy and housing industry.
From a recent edition: "Among those borrowers who are choosing to refinance now, a large share are doing so to avoid an adjustment to their monthly payment as the initial period on their adjustable-rate loan expires or to extract equity through a cash-out refi. In the fourth quarter of 2006, 84 percent of borrowers who refinanced their prime conventional loans increased their loan balance by more than 5 percent, totaling more than $70 billion in equity extracted."
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