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More US borrowers than ever refi to shrink mortgage
Sun 01/31/10 08:33:10 pm
REUTERS.COM

A record share of U.S. homeowners cut their loan principal when refinancing in the fourth quarter rather than tap their home's equity for cash, home funding company Freddie Mac (FRE.N) said on Thursday.

Record low mortgage rates in the fourth quarter and a relative dearth of equity build-up after home prices fell about 30 percent on average from 2006 peaks drove consumers to pare debt.

One-third of those who refinanced shaved their loan balance, saving billions of dollars, Freddie Mac said.


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Post and Read Comments about More US borrowers than ever refi to shrink mortgage

One Stop Manufactured Home Loan Shopping
It is easier to shop here for a manufactured home loan then anyplace else in the world! We do all the leg work. Submit the fast, easy form below , select your loan preferences and we will forward your request for loan information to several participating manufactured housing finance offices. You elect to get your information by e-mail, snail mail, fax, or you can request that a representative of each finance company phone you to explain their programs and application process.
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1. I am interested in:(check one)
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