Refinancing of GSE Loans Most Since 2013

Mortgage News

Mortgage Daily Staff

                                                 June 18, 2015

After soaring to the highest monthly volume since 2013, refinances of government-sponsored enterprise loans did it again. Freddie Mac loans were behind the surge.

Loan originators refinanced 225,273 home loans backed or owned by either Freddie or its secondary cousin Fannie Mae during April.

The Federal Housing Finance Agency reported the numbers.

The last time that the volume of GSE refinances was this high was in September 2013, when there were 235,649 mortgages refinanced.

GSE refinances totaled
203,342 in March 2015, while there were just 117,295 such transactions in April 2014.

During the four months ended April 30, there were 769,481 Fannie and Freddie mortgages refinanced.

At just Washington-based Fannie, refinances climbed to 132,091 from 125,300 in March.

Refinances of mortgages at McLean, Virginia-based Freddie soared to 93,182 in the most-recent month from 78,042 a month earlier.

Also rising on a month-over-month basis were refinances completed through the Home Affordable Refinance Program, which climbed to 11,716 from 10,384 in March.

But the program yielded less activity than in April 2014, when HARP volume was 19,688.

Mortgage Daily Staff

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