Refinancing activity at Fannie Mae and Freddie Mac spiked in the fourth quarter, with 38% of the entire year’s total volume of around 3.6 million recorded in the three-month period, according to the Federal Housing Finance Agency. The FHFA, which oversees the government-sponsored enterprises, also reports that 11% of the total volume for the year was linked to high loan-to-value loans processed under the Department of the Treasury’s Home Affordable Refinance Program.
