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Refinance Activities Reports

Freddie Mac compiles statistics on loans it purchases that refinance loans in its portfolio, and produces two reports on the attributes of these refinance loans. One report is the known as the “Cash-out Refinance Report” and the other is the “Refinance Product Transition Report.” Both are released quarterly.

The Cash-out Refinance Report examines how the loan balances have changed between the original loan and the new refinance loan, including the percentage of refinance loans that have at least five percent larger loan amount than the loan paid off, the median ratio of the old interest rate to the new interest rate, the median age of the paid-off loan, and the median appreciation of the refinanced property. These data series begin in 1985. In addition, as of the third quarter of 2002, Freddie Mac began releasing annual cash-out volume statistics. Beginning with the third quarter of 2006, Freddie Mac began releasing quarterly cash-out volume statistics. The data are available for the U.S. from 1993 on and include statistics on cash-out volume as a percentage of refinance originations volume, estimates of total home equity cashed out, and estimates of the total increase in first lien mortgage debt due to cash-outs and consolidation of existing 2nd mortgages and HELOCs.

The Refinance Product Transition examines the product choices borrowers make when they refinance an existing loan, using 6 product categories: traditional 1-year adjustable-rate mortgages (ARMs) which have regular interest rate adjustments throughout the life of the loan, hybrid ARMs that feature a longer period before the first interest-rate reset than that for subsequent resets, balloon mortgages, and three fixed-rate mortgage product groups: 15-year loan terms, 20-25 year terms and 30-year terms. The annual data in this series date back to 1990, and quarterly data are available for the past 5 years.

For more information, please visit the Refinance Activities Report FAQ page.

Quarterly Press Releases

Q1 2008 – Cash Out – May 2, 2008 Q4 2003 – Cash Out – February 4, 2004
Q4 2007 – Product – February 19, 2008 Q3 2003 – Cash Out – Oct 29, 2003
Q4 2007 – Cash Out – February 8, 2008 Q2 2003 – Cash Out – July 30, 2003
Q3 2007 – Product – November 14, 2007 Q1 2003 – Cash Out – April 30, 2003
Q3 2007 – Cash Out – November 6, 2007 Q4 2002 – Cash Out – January 29, 2003
Q2 2007 – Product – August 13, 2007 Q3 2002 – Cash Out – October 30, 2002
Q2 2007 – Cash Out - August 7, 2007 Q2 2002 – Cash Out – July 31, 2002
Q1 2007 – Product - May 24, 2007 Q1 2002 – Cash Out – May 1, 2002
Q1 2007 – Cash Out - May 1, 2007 Q4 2001 – Cash Out – February 20, 2002
Q4 2006 – Cash Out - February 6, 2007 Q3 2001 – Cash Out– October 24, 2001
Q3 2006 – Cash Out - November 1, 2006 Q2 2001 – Cash Out – Aug 21, 2001
Q2 2006 – Cash Out - August 2, 2006 Q1 2001 – Cash Out – May 2, 2001
Q1 2006 – Cash Out - May 2, 2006 Q4 2000 – Cash Out – February 12, 2001
Q4 2005 – Cash Out - February 7, 2006 Q3 2000 – Cash Out – November 28, 2000
Q3 2005 – Cash Out - November 1, 2005 Q2 2000 – Cash Out – August 14, 2000
Q2 2005 – Cash Out - August 2, 2005 Q2 2000 – Product – August 14, 2000
Q1 2005 – Cash Out - May 3, 2005 Q1 2000 – Product – May 31, 2000
Q4 2004 – Cash Out - February 1, 2005 Q1 2000 – Cash Out – May 23, 2000
Q3 2004 – Cash Out - November 3, 2004 Q4 1999 – Product – February 24, 2000
Q2 2004 – Cash Out - August 2, 2004 Q4 1999 – Cash Out – February 22, 2000
Q1 2004 – Cash Out - May 3, 2004  

 

Statistical Data

The following data files are available for downloading.

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