Taking advantage of low interest rates and service costs, there was a sharp upswing of mortgage refinancing among U.S. homeowners in 2002. Many took cash out of their properties to pay off credit card debt, remodel their homes or put money in the bank. NPR's Jack Speer reports on whether the trend has run its course.
NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.