Just one month after sinking to the lowest level on recent record, the number of government-sponsored enterprise loans that were refinanced fell further. An Obama-era program enabled 3.5 million refinances during stressful times.

Primary originators of single-family loans refinanced 81,982 Fannie Mae and Freddie Mac mortgages during July, the Federal Housing Finance Agency reported.

Historical data going back to 2011 from FHFA, which is both the regulator and conservator of Fannie and Freddie, indicate that it was the lowest month on record.

Source: Mortgage Daily