Foreclosure Prevention and Refinance Report filed

This story appeared in Bank Digest.

The Federal Housing Finance Agency has issued its Foreclosure Prevention and Refinance Report for October 2019. According to the report, Fannie Mae and Freddie Mac (the Enterprises) completed 9,082 foreclosure prevention actions in October, bringing the total to 4,390,118 since the Enterprises were placed into conservatorship in September 2008.

In addition, there were 5,801 permanent loan modifications in October, bringing the total to 2,379,758 since the start of the conservatorships.

The report also said that total refinance volume increased in October and that mortgage rates also increased during the month, with the average interest rate on a 30-year fixed rate mortgage rising to 3.69 percent from a 3.61-percent rate in September.