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Fannie Mae Index Examines Refi App Activity

Fannie Mae's Refinance Application-Level Index (RALI) is a weekly series sourcing data from our automated underwriting system, Desktop Underwriter (DU), to provide the market timely, comprehensive, and ongoing tracking of refinance activity and historical trends. For the week ending July 22, 2022, the dollar volume of refinance applications decreased 2.4% week-over-week. RALI dollar volume is down 79.7% compared to the same week last year. RALI count decreased 2.0% week-over-week and is down 77.7% compared to the same week last year.

"Refinance application activity was down slightly last week. The dollar volume and loan count have both fallen significantly this year, as we’ve moved into a higher mortgage rate environment," said Doug Duncan, Fannie Mae Chief Economist. "However, compared to the fourth quarter of 2018 – the most recent trough in the refinance market – refi dollar volumes remain meaningfully higher, consistent with the substantial home price appreciation we’ve seen over the past few years."

RALI for the week ending July 29 is scheduled for release on Tuesday, August 2 at 10 a.m.

To read the full release, including more charts and methodology, click here.

About Author: Demetria Lester

Demetria C. Lester is a reporter for DS News and MReport magazines with more than eight years of writing experience. She has served as content coordinator and copy editor for the Los Angeles Daily News and the Orange County Register, in addition to 11 other Southern California publications. A former editor-in-chief at Northlake College and staff writer at her alma mater, the University of Texas at Arlington, she has covered events such as the Byron Nelson and Pac-12 Conferences, progressing into her freelance work with the Dallas Wings and D Magazine. Currently located in Dallas, Texas, Lester is an avid jazz lover and likes to read. She can be reached at [email protected].

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