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geographerjay.bsky.social
•
75 days ago
You have to look at the application rate, which is really low.
https://www.newyorkfed.org/microeconomics/sce/credit-access#/experiences-credit-applications18
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shwhip.bsky.social
•
75 days ago
This. And also the reason WHY people refinance. It isn’t always to lock in a lower payment. Often, it is to cash in equity built into their houses for numerous reasons, the most scary in this case being the necessity of a cash infusion.
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valleyanna56.bsky.social
•
75 days ago
Yes, the equity is yours. You should be able to use it when needed.
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meaningfullness.bsky.social
•
75 days ago
Thank you. That is helpful insight.
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os1usnr.bsky.social
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75 days ago
How is the application rate calculated?
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geographerjay.bsky.social
•
75 days ago
Percent of the survey sample I guess, the Fed site has details.
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duffeyhomesnova.bsky.social
•
75 days ago
^^^THIS
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