Mortgage Refi Activity Increased Amid Rate Drops
Amid rate drops in the fall, mortgage refinance activity in Massachusetts increased.
Amid rate drops in the fall, mortgage refinance activity in Massachusetts increased.
With loan costs rising to their highest levels in more than two years, time may have run out on many homeowners thinking about refinancing. But could they turn to HELOCs to pay for things like renovations, instead?
Purchase mortgage applications across the country are now only 1.5 percent off the same week one year ago according to the Mortgage Bankers Association’s latest survey.
American homeowners are doing something surprising: Despite record amounts of home equity available to them – an estimated $1.5 trillion – they are tapping into it less via home-equity credit lines and cash-out refinancings.
A West Bridgewater-based Internet and catalog retailer recently refinanced some of its existing debt with a $21.5 million credit facility from Citizens Bank.