The last time that the monthly volume of government-sponsored enterprise refinances was this high was in 2013. The Federal National Mortgage Association was behind the surge.
During the month of March, mortgage originators refinanced 203,342 residential loans backed by
Fannie Mae and Freddie Mac.
GSE refinance volume has not been this strong since September 2013, when 235,649 Fannie and Freddie loans were refinanced.
Refinances at the pair of secondary lenders
totaled 188,455 transactions in February 2015 and 105,059 in March 2014.
Of the latest month’s activity, 125,300 loans were backed by Fannie — climbing from 99,141 a month earlier and 67,765 a year earlier.
But at Freddie, refinance volume dropped to 78,042 from 89,314 in February 2015 and 37,294 in March 2014.
Included
in March GSE refinances were 10,384 loans closed through the Home Affordable Refinance Program.
HARP volume slipped from 10,673
the prior month and sank compared to 19,991 in March 2014.
March 2015 HARP production included 6,115 Fannie loans and 4,269 Freddie loans.
Since HARP went live in April 2009, there have been
3,302,102 loans refinanced through the program.
