Abbreviated Appreciation Curtails Cash-Outs

Date May 24, 2007

As home appreciation slows, homeowners with less equity to tap are holding onto their mortgages longer and fewer are risking larger mortgages when they do refinance.
In another sign of the boom-gone-bye-bye times, in the first quarter of 2007, the median appreciation of refinanced property was 24 percent, down from 31 percent a year ago, [...]