Fannie, Freddie Refinancings Edged Up in April

Fannie Mae and Freddie Mac seller/servicers completed 106,900 HARP refinancings in April, up 8% from the month prior.

It represents the highest volume of HARP refis since November.

The Federal Housing Finance Agency reported Monday that HARP refinancings comprised 23% of all GSE refinancings, up from 21% in March.

The Home Affordable Refinancing Program provides streamline refinancing of GSE mortgages with loan-to-value ratios greater than 80%.

In April, HARP refis with LTVs above 125% totaled 21,780, up slightly from March, and represented 20% of all HARP refinancings. In March, 22% of HARP refis had LTVs above 125%.

“Refinance volume remained high in April as mortgage rates remained near record lows,” the FHFA said in its monthly HARP report.

Overall, Fannie and Freddie refinanced a total of 463,590 loans in April, up slightly from 461,650 in the month prior.