Giorgio’s film Owned goes deep on these same topics:
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Coming back to this. Was just on the phone with one of the largest home lenders in the country. They said cash out refinances were <10% of business last year and 50%+ starting this year. Said it won't show in the data for another few months. Added other uses: reno & college https://twitter.com/AliWolfEcon/status/1486739714308599808
Was just talking to a loan officer. He said he’s seeing a big increase in cash out refinances. Said people are giving up 2.8% interest rates for 4.5% bc they want the cash. Uses? Debt consolidation, remodeling, rainy day funds, and down payment for investment properties.