Cash-Out Refi Customers Largely Used Proceeds to Pay Down Debt

HousingWire, Jan. 27, 2025-Chris Clow
Consumers who chose to take out a cash-out refinance largely used the loan’s proceeds for paying down existing debts, with notable impacts on credit card and auto loan balances as well as credit utilization rates. Cash-out borrowers also saw increases in their credit scores on average, while scores for non-cash-out borrowers decreased.
Click here for more (subscription)