Insane cash out refi numbers

Avg FICO is 800, but will all this debt come back to bite a percentage of these borrowers? I also wonder how many of them in CA realize they just gave up their non-recourse protection.

https://www.wsj.com/articles/cash-out-refinancings-hit-highest-level-since-financial-crisis-11615458602?mod=lead_feature_below_a_pos1

I did a cash out refi once about 4 years ago and they didn?t charge me any extra fees or points for doing so.  Was considering doing this again when I refi?d late last year but this time was quoted a fee of half percent on the entire loan amount, not just the cash out portion.

For example let?s say your home is worth $900k and you owe $600k.  You take a cash out refi for $700k loan = $100k cash out and the fee was $3,500.  Half percent on $700k even though I was only taking $100k cash out.  Decided not to do it.

Probably all for the best, would just bought GME or PLTR with it anyways.

Was thinking of doing a cash-out in Dec.  Rate was about .25 higher than without a cash-out. 

@aqua - I think that PLTR is a gem. I just got in and plan to stay for the long haul..like 10 years...