by Calculated Risk on 10/30/2006 03:31:00 PM

Using my method for calculating Mortgage Equity Extraction (MEW), the following graph shows MEW for the first two quarters of the year, and the total year.

Click on graph for larger image.

Over the last few years, a growing percentage of equity extraction has occurred in the second half of the year.

Based on preliminary reports from the BEA, Q3 MEW was probably around $100 Billion.

NOTE: Maybe a few more abbreviations in the graph title will make this clear: MEW = Mortgage Equity Extraction, NSA = Not Seasonally Adjusted, CR = Calculated Risk.