- A large drop in mortgage applications last week made headlines. Higher rates were blamed, though apps typically fall some at year’s end.
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- Cash-out refinances will cost consumers more in 2023 due to higher fees from the FHFA. Refis still make up almost one third of mortgage apps.
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- Beginning in March, Freddie Mac will require a first lien mortgage to be at least 12 months old before it can be paid off by a cash-out refinance.
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