Posted on Friday, February 4, 2011
In the last quarter of 2010 Freddie Mac
> reported that 46% of homeowners who refinanced lowered their principal by putting
> in more money at closing, the highest cash-in percentage on record. Meanwhile, Freddie's
> cash-out borrowers fell to 16% of all loans, the lowest percentage on record. Combine
> that with the MBA is projecting residential origination will drop below $1 trillion
> (2002-levels, and a 35% decrease from last year), expecting new home purchases to
> rise 30% & refinancing activity expected to fall 66%, and we have a different market.
> Keep on top of those business plans!