Quarterly Refinance Statistics Archive

The Cash-out Refinance Report examines how the loan balances have changed between the original loan and the new refinance loan, including the percentage of refinance loans that have at least five percent larger loan amount than the loan paid off, the median ratio of the old interest rate to the new interest rate, the median age of the paid-off loan, and the median appreciation of the refinanced property. These data series begin in 1985. In addition, as of the third quarter of 2002, Freddie Mac began releasing annual cash-out volume statistics. Beginning with the third quarter of 2006, Freddie Mac began releasing quarterly cash-out volume statistics. The data are available for the U.S. from 1993 on and include statistics on cash-out volume as a percentage of refinance originations volume, estimates of total home equity cashed out, and estimates of the total increase in first lien mortgage debt due to cash-outs and consolidation of existing 2nd mortgages and HELOCs.

Starting with the first quarter of 2013, we combined the Cash-out Refinance Report and Refinance Product Transition Report into one Refinance Report to provide greater context around refinance behavior.

The Refinance Product Transition Report examines the product choices borrowers make when they refinance an existing loan, using 6 product categories: traditional 1-year adjustable-rate mortgages (ARMs) which have regular interest rate adjustments throughout the life of the loan, hybrid ARMs that feature a longer period before the first interest-rate reset than that for subsequent resets, balloon mortgages, and three fixed-rate mortgage product groups: 15-year loan terms, 20-25 year terms and 30-year terms. The annual data in this series date back to 1990, and quarterly data are available for the past 5 years.

Starting with the first quarter of 2013, we combined the Cash-out Refinance Report and Refinance Product Transition Report into one Refinance Report to provide greater context around refinance behavior.