In the last 6-9 months, with falling mortgage rates and rising home values, many homeowners have refinanced to tap into their home equity and gain cash.
"over the last 6 to 9 months have mortgage rates have begun to fall many people have used this as an opportunity to pull out some cash out of their homes through a refinance because mortgage rates have fallen and home values have gone up so it's a way for people to tap into this equity and have some more cash in their pockets today"