Nearly 3.5 Million HARP Loans at Program Expiration

Washington, D.C. – The Federal Housing Finance Agency (FHFA) reported that Fannie Mae and Freddie Mac completed 245,620 refinances in the fourth quarter of 2018, compared with 253,135 in the third quarter. FHFA’s fourth quarter Refinance Report  also shows that 1,390 loans were refinanced through the Home Affordable Refinance Program (HARP), bringing the total number of HARP refinances to 3,494,395 since inception of the program in 2009 and completion in Dec. 31, 2018.

Also in the Refinance Report:

  • Year to date through December 2018, 33 percent of HARP refinances for underwater borrowers were for shorter-term, 15- and 20-year mortgages.
  • Borrowers who refinanced through HARP had a lower delinquency rate compared with borrowers eligible for HARP who did not refinance through the program.
  • From April 2009 through December 2018, 2,918,957 loans refinanced through HARP were for primary residences, 110,887 were for second homes and 464,551 were for investment properties.

Link to Refinance Report


The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $6.2 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at, on Twitter @FHFAYouTube and LinkedIn.


Media: Stefanie Johnson (202) 649-3030 / Corinne Russell (202) 649-3032
Consumers: Consumer Communications or (202) 649-3811