Cash-Out Refinancing Interests Twice as Many Borrowers, Says GuideToLenders.com

Homeowners have shown increasing interest in refinancing to convert their home equity into cash, according to a poll on GuideToLenders.com, an online consumer resource for obtaining competing mortgage quotes.

Exactly twice as many homeowners selected "receiving cash at closing" as their reason for refinancing in April than in February.

And other studies confirm this as well -- Dow Jones MarketWatch claims that as the prime rate increases, other types of financing have become more expensive, prompting more people to tap into their home equity.