US 03 refinancings establish record $139 bln-Freddie Mac - 2004-02-04
U.S. homeowners borrowed a record $139 billion by incorporating their homes as equity through so-called cash-out refinancings last year, according to Freddie Mac, the No. 2 source of housing finance in the United States.

The ability to wring equity from a home was aided by last year's historically low mortgage rates and steady gains in home values.

According to Freddie Mac, cash-out refinancing in 2003 was the largest since it started tracking refinancing activity in 1985.
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U.S. weekly mortgage requests dropped last week- MBA - 2004-02-04
U.S. applications for home loans dropped last week amid a slight increase in mortgage rates, but lending remained vibrant, according to an industry survey of mortgage bankers released on Wednesday.

The Mortgage Bankers Association said its market index, a measure of weekly mortgage activity, fell 1.5 percent in the week ended Jan. 30 to 855.7.
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