Economic and Housing Research
Weekly Commentary
May 2
Mortgage rates eased somewhat following the release of the advance estimate of real GDP growth for the first quarter of the year, which rose 2.5 percent but fell short of the market consensus forecast. The latest GDP report confirmed that the housing sector has become an important contributor to the economic recovery. Residential fixed investment added to overall economic growth over the past eight consecutive quarters and contributed more than 0.3 percentage points in growth over the first three months of this year. Moreover, near record low mortgage rates should further drive the housing market recovery over the near term. >> Next Commentary: May 9
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:
Q4 2012 Product Transition Release
27 Percent of Borrowers Shortened Their Loan Term When Refinancing During the Fourth Quarter
February 12, 2013
27 Percent of Borrowers Shortened Their Loan Term When Refinancing During the Fourth Quarter
Borrowers in lower cost housing markets more likely to shorten loan term when refinancing in 2012
Q4 2012 "Cash-Out" Release
84 Percent of Refinancing Homeowners Maintain or Reduce Mortgage Debt in Fourth Quarter
February 4, 2012
More Refinance Borrowers "Cash-In" than "Cash-Out"
Borrowers Cash-Out Just $8 Billion When Refinancing
Metro Areas With More Severe House Price Declines Tend to Have Very Little "Cash-Out" Shares
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.