Local Address: January 24, 2010 - January 30, 2010

Refinancers cut interest rates and shrink their debt

How are homeowners responding to record-low interest rates? A lot of them are refinancing into low-rate mortgages AND shrinking their mortgage balance at the same time, according to a report out Thursday from Freddie Mac. The mortgage company said one-third of borrowers who refinanced their mortgages in the fourth quarter brought cash to the table.

By Elizabeth Razzi  |  January 28, 2010; 3:50 PM ET  |  Permalink  |  Comments (0)
Categories:  Mortgages , Statistics , The economy  
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