Home Equity Lending
The refinance market isn’t dead. It just changed shape.
High rates have crushed the cash-out refi market, but second liens create new possibilities
Thom Malone is a principal economist at Cotality, where he analyzes housing markets and home price trends. He brings extensive expertise in urban and real estate economics and applied econometrics, and is regularly interviewed by industry publications on topics including home price trends, real estate investors and global housing dynamics. His peer-reviewed research and contributions to the Cotality Insights blog are frequently cited and quoted across the industry. Thom holds a bachelor’s degree in economics, statistics and history from the University of Auckland, a master’s in economics from Tufts University and a doctorate in urban planning and development from the University of Southern California.
High rates have crushed the cash-out refi market, but second liens create new possibilities
A new law curbs institutional investor activity. Data shows the retreat was already in progress — and it barely made a dent in the market
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