Although there was a monthly increase in government-supported refinances, overall government-sponsored enterprise refinances slowed.
During the final month of last year, there were
251,903 home loans backed or owned by Fannie Mae and Freddie Mac that were refinanced.
Volume moved slightly down from the previous month, when 255,329 of the pair of secondary mortgage lenders’ loans were refinanced.
But refinance nearly doubled compared to 136,617 GSE refinances a year previous.
The monthly figures were based on an analysis of quarterly data reported by the two companies’ regulator and conservator, the Federal Housing Finance Agency.
Refinances of Washington-based Fannie’s loans accounted for 152,958 of the December 2016 total, down from the previous month’s 153,446.
Over at McLean, Virginia-based Freddie, refinances fell to 98,945 from 101,883 in November.
FHFA’s data indicate that 4,704 of the December 2016 production was closed through the Home Affordable Refinance Program.
HARP volume inched up from 4,530 a month earlier but fell from 5,874 a year earlier.
Since the inception of HARP
in April 2009, there have been 3,442,967 loans refinanced through the program.
