After declining to the lowest level on record, government-supported refinance activity descended further. Overall refinance volume was lower at the government-sponsored enterprises.
The number of
Fannie Mae and Freddie Mac residential loans that were refinanced during January worked out to 152,411.
Volume diminished compared to December of last year, when a downwardly revised 158,883 GSE mortgages were refinanced.
But refinance activity picked up from the downwardly revised 138,281 GSE refinances in January 2014.
The data was reported by the pair of secondary lenders’ regulator and conservator, the Federal Housing Finance Agency.
At Washington-based Fannie, refinancings slowed to 95,861 from 99,083 a month earlier.
McLean, Va.-based Freddie’s volume fell to 56,550 in January from 59,800.
A total of
10,591 mortgages were refinanced through the Home Affordable Refinance Program last month — the smallest number on record based on data back to January 2011.
HARP production was
11,160 a month earlier and 29,973 a year earlier.
Since HARP went live in April 2009, there
have been 3,281,045 loans refinanced through the program.
