New Refinance Test Effective Today
December 20, 2017
A new Refinance Test (2017Q4) effective for all new loans, except for Small Balance Loans, is available today, Wednesday, December 20. The 2017Q3 Refinance Test will have a grace period up to Wednesday, January 3, 2018, after which we will only accept the 2017Q4 Refinance Test.
Changes to the test include market and interest rate data modifications. To more accurately represent refinance risk, the rates multiplier was adjusted, which keeps the implied 10-year forward rate in the test at 4.43 percent. Combined with broader market changes, the impact of this update is very small.
For more information, visit our Refinance Test and Resources page. Please contact your Freddie Mac Multifamily representative with any Refinance Test questions.