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Cash-out refinancing: check it out carefully

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  • William R. Emmons

Abstract

Lower interest rates can make mortgage refinancing a good idea, but borrowers need to pay attention to more than just the monthly payment. Cash-out refinancing is especially tricky because it entails taking on a larger mortgage. This can lead to a greater repayment burden in the future.

Suggested Citation

  • William R. Emmons, 2005. "Cash-out refinancing: check it out carefully," The Regional Economist, Federal Reserve Bank of St. Louis, issue Jul, pages 10-11.
    • Handle: RePEc:fip:fedlre:y:2005:i:jul:p:10-11
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    Keywords

    Mortgages;

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