That’s the highest cash-out level since 2005 and is within 1% of an all-time record.
Total originations last year reached $4.4 trillion, topping 2020’s record high, according to the report.
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Of $2.7 trillion in refinances originated in 2021, $1.2 trillion were cash-outs, according to Black Knight’s latest Mortgage Monitor report.
That’s the highest cash-out level since 2005 and is within 1% of an all-time record.
Total originations last year reached $4.4 trillion, topping 2020’s record high, according to the report.