[MSM]

Admittedly, the raw numbers are difficult to find in an article I can link. However, there has been a significantly higher volume of cash out refis than we've seen in the last 15ish years.

https://www.housingwire.com/articles/cash-out-refis-reach-1-...

Cash out refis accounted for ~25% of all refinances in 2021 (roughly similar numbers in 2020). Remember at the start of the pandemic many people tapped their equity because of uncertainty and extremely low rates.