The Federal Housing Finance Agency (FHFA) today reported that Fannie Mae and Freddie Mac (the Enterprises) completed 234,716 refinances in the first quarter of 2019.  FHFA’s first quarter 2019 Refinance Report also shows that 901 loans were refinanced through the Home Affordable Refinance Program (HARP), bringing the total number of HARP refinances to 3,495,296 since inception of the program in 2009.

Because HARP expired in December 2018, the Enterprises created options for refinancing mortgages with a high loan-to-value ratio.  Deliveries were eligible beginning January 1, 2019.

Also in the Refinance Report:

  • Total refinance volume increased in March 2019 as mortgage rates fell in previous months.
  • The average interest rate on a 30-year fixed-rate mortgage fell from 4.37 percent in February to 4.27 percent in March.
  • From April 2009 through March 2019, 2,919,583 loans refinanced through HARP were for primary residences, 110,922 were for second homes and 464,791 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 $6.3 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at, on Twitter, @FHFAYouTubeFacebook, and LinkedIn.


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