Economic and Housing Research
Weekly Commentary
October 3
With the onset of the federal government shutdown and declining consumer confidence, fixed mortgage rates fell for the third consecutive week. Consumer sentiment fell for the second month in a row in September to its lowest reading since April, according to the University of Michigan. Moreover, a recent Bloomberg survey of professional forecasters suggests that a partial federal shutdown lasting one week would shave 0.1 percentage points off of GDP growth in the fourth quarter and even more if the shutdown lasts longer. >> Next Commentary: October 10
Refinancing Activity Reports
Freddie Mac compiles statistics and produces two quarterly reports, the "Cash-out Refinance Report" and the "Refinance Product Transition Report" based on loans refinanced in our retained portfolio:
Q2 2013 Refinance Report
Refinance Cash-Out Share Increases; Remains Low Historically
August 13, 2013
Refi Booms End Quickly As Rates Come Off Lows
31% Shortened Loan Term When Refinancing
15% Took “Cash-Out” At Refinance vs. 89% in Q3 2006
Borrowers Cash-Out Just $9 Billion When Refinancing
Disclaimer
Opinions, estimates, forecasts and other views contained in this page are those of Freddie Mac's Office of the Chief Economist, do not necessarily represent the views of Freddie Mac or its management, should not be construed as indicating Freddie Mac's business prospects or expected results, and are subject to change without notice. Although the Office of the Chief Economist attempts to provide reliable, useful information, it does not guarantee that the information is accurate, current or suitable for any particular purpose. © 2013 by Freddie Mac. Information from this page may be used with proper attribution.