A severe month-over-month decline in refinances was recorded for residential loans backed or owned by the Federal Home Loan Mortgage Corp.
There were a combined 154,059 Freddie Mac and Federal National Mortgage Association mortgages that were refinanced during the month of August.
Refinance volume tumbled from the previous month, when primary lenders refinanced 198,081 government-sponsored enterprise home loans.
Still, volume accelerated compared to the same month in 2014, when 131,073 GSE mortgages were refinanced.
The production data was disclosed Tuesday by the regulator and conservator of the pair of secondary lenders, the Federal Housing Finance Agency.
Refinances of Washington-based Fannie Mae loans accounted for 89,181 of the latest monthly total, diminishing from 98,962 in July.
Over at McLean, Virginia-based Freddie, the decline was far more substantial — with volume plunging to 64,878 loans in August from 99,119 the previous month.
Zeroing in on just transactions closed through the Home Affordable Refinance Program,
production slowed to 7,496 during the most-recent month from 9,267 in July.
HARP refinances plummeted from 14,062 in August 2014.
Since the April 2009 launch of HARP, 3,350,410 mortgages have been refinanced through the program.
