Just a month after surging to a three-year high, refinances of government-sponsored enterprise loans fell — with federally funded transactions falling to an all-time low.

There were 243,537 Federal National Mortgage Association and Federal Home Loan Mortgage Corp. residential loans that were refinanced in October of this year.

GSE refinance production moved lower from 250,534 in September, which had been the busiest month since August 2013 when there were 302,370 transactions.

Source: Mortgage Daily