<img src="https://certify.alexametrics.com/atrk.gif?account=B8H6x1kjeG20f0" style="display:none" height="1" width="1" alt="">

1 min read

Cash-out climbs to 50% of refinance volume

Featured Image

According to a Q1 2017 equity report by Corelogic, "Homeowners equity increased by $766 billion over the last year." Just last month (June) 50% of refinance transactions were cash-out!! Whether it's for a debt consolidation or home improvement, cash-out transaction are hot and steamy this summer!

The uptick in rates at the beginning of the year really put the brakes on rate and term refinances. Cash-out refinances, on the other hand, aren't as rate sensitive and it shows in the numbers. The volume of cash-out transactions only took a small dip since December when rates took a hit. First mortgage rates are still low, so taking cash-out to pay off a high interest credit card, auto loan, home equity line, or solar financing is starting to make a lot of sense to home owners.

If you are wondering how to keep your foot on the gas through fall and winter, you may want to consider executing some cash-out refinance mortgage lead generation efforts. You might as well, your clients are doing cash-out refinances in a big way with or without you. They are your clients, you should keep them.

How do I identify cash-out refinances in my market?

Ohhh, pick me, pick me, I know! There is a lot to it, but I'll give you a hint: You need to identify home owners with equity, decent credit, and an intent signal or need. Then you just need to target them with a great marketing message at the right time. If you have that all in place, great! If you need help, give us a ring!

Learn More

New Web app Design. Even Better Features

We have big news!

 

We’ve been working hard on redesigning our website into an even more comprehensive and accessible tool for you and your...

Read More

Sales Strategy for the Remainder of 2022

Hello to all of our wonderful lenders and originators! I want to take this moment to talk about strategy for the remainder of 2022 As I believe there...

Read More