Total refinancings by Fannie Mae and Freddie Mac seller/servicers dropped 10% from June to 369,100 in July, according to a new report by the Federal Housing Finance Agency.
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HARP refinancings also fell by 10% to the lowest level since December.
The FHFA reported Thursday that GSE servicers completed 79,260 HARP refis in July, down from 88,375 in the prior month.
In July, 17% of loans refinanced through HARP had loan-to-value ratios greater than 125% and 42% of
Overall, HARP refis comprised 22% of total GSE refinancings in July.
