Monthly refinances of government-sponsored enterprise mortgages plunged to the lowest level in six months as government-supported refinance volume fell to a new low.

Primary originators of single-family loans closed 123,170 Fannie Mae and Freddie Mac refinances during the first month of this year — the fewest since there were 109,199 in July 2017.

GSE mortgage refinances numbered 155,910 in the final month of last year, while the total came to 208,699 during the first month of 2017.

Source: Mortgage Daily