Although government-funded and Freddie Mac refinances retreated, overall government-sponsored enterprise refinances reached a nine-month high.
During the month of April, there were 168,212 residential loans that are owned or backed by Fannie Mae and Freddie Mac which were refinanced.
The last time the volume of Fannie and Freddie
mortgage refinances was this high was in July of last year, when 198,080 GSE loans were refinanced.
The data were reported by the two companies’ regulator and conservator, the Federal Housing Finance Agency.
Fannie Mae mortgages that were refinanced climbed to 103,720 during the most-recent month from 99,268 in March 2016.
But refinances of Freddie loans fell to 64,492 from 67,872.
Refinances closed through the Home Affordable Refinance Program accounted for 6,347 of April 2016’s total GSE refinance volume.
HARP production declined from 7,326 a month earlier and sank from 11,716 a year earlier.
There have been
3,406,890 HARP refinances since the program launched on April 1, 2009.