Americans continue to draw down on their housing nest-egg. It is keeping the economy perking, but can it last much longer?
While refinancing as a share of overall mortgage activity continues to decrease as rates rise, Americans who do refinance continue to liberate home equity to pay for home improvements, bill consolidation, consumer purchases and other discretionary spending.
More on this at: http://www.mortgagenewsdaily.com/2102006_Cash_Out_Refinancing.asp