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Homeowners are sitting on $5.4 trillion in ready cash, the most ever

Homeowners are sitting on $5.4 trillion in ready cash, the most ever

Unlike during the last peak, homeowners today are far more conservative and lenders are stricter. Last year, even with record equity, homeowners took out only $262 billion via cash-out refinances or home equity lines of credit, or HELOCs. While that is another post-recession peak in dollars, it is less than 1.25 percent of all available equity, a four-year low.

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