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FHFA: Refinance Report – First Quarter 2019

Investor Update
May 20, 2019

Source: FHFA

First Quarter 2019 Highlights​ 

• Total refinance volume increased in March 2019 as mortgage rates fell in previous months. Mortgage rates decreased in March: the average interest rate on a 30‐year fixed rate mortgage fell to 4.27 percent from 4.37 percent in February.

In the First Quarter of 2019:

• Borrowers completed 901 refinances through HARP, bringing total refinances from the inception of the program to 3,495,296.

• HARP volume represented 0.4 percent of total refinance volume.

• Borrowers who refinanced through HARP had a lower delinquency rate compared to borrowers eligible for HARP who did not refinance through the program.

Related News Release

Attachments: Refinance Report – First Quarter 2019

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