FHFA Releases Q4 Refinance Data
February 15, 2017
The Federal Housing Finance Agency (FHFA) has reported that 13,220 borrowers refinanced their mortgages through the Home Affordable Refinance Program (HARP) during the fourth quarter of 2016, while the number of total refinances in the final three months of last year was 750,769.
Furthermore, 27 percent of HARP refinances in the fourth quarter were for underwater borrowers with shorter-term 15- and 20-year mortgages. The FHFA noted that more than 194,000 borrowers were able to benefit from a HARP finance, and more than 60 percent of the homeowners were based in eight states—Florida, Illinois, Michigan, Ohio, Georgia, New Jersey, Pennsylvania, New York and California—and Puerto Rico.
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