Refinance Statistics
| QUARTERLY REFINANCE STATISTICS | |||||
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Percentage of Refinances Resulting in:
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Descriptive Statistics on Loan Terms and Property Valuation
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Quarter
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5% Higher Loan Amount
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Lower Loan Amount
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Median Ratio of Old to New Rate2
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Median Age of Refinanced Loan (years)
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Median Appreciation of Refinanced Property
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| 199803 | 48% | 17% | 1.15 | 4.0 | 10% |
| 199804 | 44% | 20% | 1.19 | 3.3 | 10% |
| 199901 | 54% | 13% | 1.17 | 4.3 | 11% |
| 199902 | 56% | 13% | 1.14 | 4.7 | 12% |
| 199903 | 68% | 11% | 1.05 | 5.4 | 18% |
| 199904 | 77% | 9% | 0.98 | 4.9 | 21% |
| 200001 | 80% | 7% | 0.93 | 5.0 | 22% |
| 200002 | 80% | 8% | 0.91 | 4.8 | 24% |
| 200003 | 81% | 8% | 0.92 | 4.6 | 26% |
| 200004 | 74% | 10% | 0.98 | 3.5 | 23% |
| 200101 | 53% | 8% | 1.16 | 1.6 | 12% |
| 200102 | 60% | 9% | 1.15 | 2.5 | 16% |
| 200103 | 61% | 10% | 1.14 | 2.7 | 18% |
| 200104 | 47% | 19% | 1.19 | 2.8 | 14% |
| 200201 | 61% | 10% | 1.16 | 3.4 | 18% |
| 200202 | 63% | 10% | 1.14 | 3.4 | 20% |
| 200203 | 44% | 19% | 1.19 | 2.9 | 13% |
| 200204 | 40% | 22% | 1.22 | 2.4 | 11% |
| 200301 | 41% | 13% | 1.24 | 1.9 | 7% |
| 200302 | 33% | 15% | 1.27 | 1.7 | 3% |
| 200303 | 34% | 17% | 1.28 | 1.7 | 5% |
| 200304 | 44% | 21% | 1.22 | 2.2 | 12% |
| 200401 | 42% | 14% | 1.22 | 2.0 | 6% |
| 200402 | 43% | 15% | 1.21 | 2.0 | 8% |
| 200403 | 59% | 15% | 1.14 | 2.5 | 17% |
| 200404 | 56% | 19% | 1.14 | 2.3 | 15% |
| 200501 | 64% | 10% | 1.12 | 2.4 | 17% |
| 200502 | 71% | 9% | 1.08 | 2.5 | 23% |
| 200503 | 73% | 10% | 1.07 | 2.6 | 24% |
| 200504 | 80% | 8% | 1.02 | 2.9 | 27% |
Notes:
1Higher loan amount refers to loan amounts that were at least 5 percent greater than the amortized unpaid principal balance (UPB) of the original loan. “Lower loan amount” refers to loan amounts that were less than the amortized UPB of the original loan.
2Ratio of old to new rate refers to the ratio of the interest rate of the refinanced loan to the interest rate of the new loan.
These data can be found at www.FreddieMac.com/news/finance/data.html. For more information, contact us at chief_economist@freddiemac.com
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