Monthly refinances of government-sponsored enterprise loans sank to the lowest level on recent record. Refinances of Federal Home Loan Mortgage Corp. loans suffered most.

During June, primary mortgage originators refinanced 90,856 residential loans backed by the Federal National Mortgage Association and Freddie Mac.

Based on a Mortgage Daily analysis of the oldest available refinance data reported by the Federal Housing Finance Agency back to 2011, it was the fewest GSE refinances on record.

Source: Mortgage Daily