[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-0-en-105":3,"doc-seo-203532-105":59,"doc-detail-203532-en":130},{"code":4,"msg":5,"data":6},0,"success",[7,13,18,23,28,33,38,43,48,51,55],{"id":8,"doc_module":4,"doc_module_name":9,"category_name":10,"show_sort_weight":11,"slug":12},1,"Document","Story & Novel",90,"story-novel",{"id":14,"doc_module":4,"doc_module_name":9,"category_name":15,"show_sort_weight":16,"slug":17},2,"Literature",80,"literature",{"id":19,"doc_module":4,"doc_module_name":9,"category_name":20,"show_sort_weight":21,"slug":22},4,"Exam",70,"exam",{"id":24,"doc_module":4,"doc_module_name":9,"category_name":25,"show_sort_weight":26,"slug":27},5,"Comic",60,"comic",{"id":29,"doc_module":4,"doc_module_name":9,"category_name":30,"show_sort_weight":31,"slug":32},6,"Technology",50,"technology",{"id":34,"doc_module":4,"doc_module_name":9,"category_name":35,"show_sort_weight":36,"slug":37},7,"Healthcare",40,"healthcare",{"id":39,"doc_module":4,"doc_module_name":9,"category_name":40,"show_sort_weight":41,"slug":42},8,"Research & Report",30,"research-report",{"id":44,"doc_module":4,"doc_module_name":9,"category_name":45,"show_sort_weight":46,"slug":47},9,"Religion & Spirituality",20,"religion-spirituality",{"id":46,"doc_module":4,"doc_module_name":9,"category_name":49,"show_sort_weight":46,"slug":50},"World Cup","world-cup",{"id":52,"doc_module":4,"doc_module_name":9,"category_name":53,"show_sort_weight":52,"slug":54},10,"Lifestyle","lifestyle",{"id":56,"doc_module":4,"doc_module_name":9,"category_name":57,"show_sort_weight":24,"slug":58},19,"General","general",{"code":4,"msg":60,"data":61},"ok",{"site_id":62,"language":63,"slug":64,"title":65,"keywords":66,"description":67,"schema_data":68,"social_meta":123,"head_meta":125,"extra_data":127,"updated_unix":129},105,"en","economic-housing-research-note-refinance-trends-in-2020","Economic & Housing Research Note - Refinance Trends in 2020","","2020年再融资活动在经济衰退与疫情冲击下仍显著升温。由于抵押贷款利率处于历史低位，贷款人通过降息与提高自有权益（含现金支取再融资）实现月供下降并提取权益。报告概述2020年再融资量接近历史高位、重复再融资占比上升、不同都会区差异及借款人平均降息幅度与年度节省规模，结合Freddie Mac数据与若干图表进行趋势归纳。",{"@graph":69,"@context":122},[70,84,105],{"@type":71,"itemListElement":72},"BreadcrumbList",[73,77,79,82],{"item":74,"name":75,"@type":76,"position":8},"https://docshare.wps.com","Home","ListItem",{"item":78,"name":9,"@type":76,"position":14},"https://docshare.wps.com/document/",{"item":80,"name":40,"@type":76,"position":81},"https://docshare.wps.com/document/research-report/",3,{"item":83,"name":65,"@type":76,"position":19},"https://docshare.wps.com/document/economic-housing-research-note-refinance-trends-in-2020/203532/",{"url":83,"name":65,"@type":85,"image":86,"author":91,"headline":65,"publisher":94,"fileFormat":97,"inLanguage":63,"description":67,"dateModified":98,"datePublished":99,"encodingFormat":97,"isAccessibleForFree":100,"interactionStatistic":101},"DigitalDocument",{"url":87,"@type":88,"width":89,"height":90},"https://docshare.wps.com/thumbnails/economic-housing-research-note-refinance-trends-in-2020/203532.png","ImageObject",300,407,{"name":92,"@type":93},"Đào","Person",{"url":74,"name":95,"@type":96},"DocShare","Organization","application/pdf","2026-10-04","2026-09-04",true,{"@type":102,"interactionType":103,"userInteractionCount":19},"InteractionCounter",{"@type":104},"ViewAction",{"@type":106,"mainEntity":107},"FAQPage",[108,114,118],{"name":109,"@type":110,"acceptedAnswer":111},"为什么2020年的再融资活动会大幅增长？","Question",{"text":112,"@type":113},"2020年抵押贷款利率降至历史低位，促使大量借款人把贷款利率进一步下调，从而推动再融资量接近历史高位。报告也指出，房价上涨带来的自有权益提升帮助业主更愿意进行再融资。","Answer",{"name":115,"@type":110,"acceptedAnswer":116},"什么是“重复再融资”？2020年的占比变化如何？",{"text":117,"@type":113},"重复再融资指在12个月内对同一笔贷款进行两次或以上再融资的情况。2020年重复再融资占比为10.1%，高于2019年的7.8%，但仍低于2003年的16.6%。",{"name":119,"@type":110,"acceptedAnswer":120},"借款人通常能获得多少节省？不同地区是否有差异？",{"text":121,"@type":113},"报告显示，2020年平均降息幅度在不同样本中可见，且采用30年固定利率对30年固定利率再融资的借款人平均可在年度按揭支付上节省超过2,800美元。节省金额在都会区之间差异明显，例如洛杉矶、旧金山、西雅图与华盛顿特区等地的节省更高。","https://schema.org",{"og:url":83,"og:type":124,"og:title":65,"og:site_name":95,"og:description":67},"article",{"robots":126,"canonical":83},"index,follow",{"doc_id":128,"site_id":62},203532,1788561693,{"code":4,"msg":5,"data":131},{"doc_id":128,"user_id":132,"nickname":92,"user_avatar":133,"doc_module":4,"category_id":39,"category_name":40,"doc_title":65,"doc_description":67,"doc_content":134,"file_id":135,"file_url":136,"file_type":137,"file_size":138,"view_count":19,"is_deleted":4,"is_public":8,"is_downloadable":8,"audit_status":8,"page_count":139,"language":140,"language_code":63,"site_id":62,"html_lang":63,"table_of_contents":141,"faqs":142,"seo_title":143,"seo_description":67,"update_tm":129,"read_time":144},1374402968488,"https://ap-avatar.wpscdn.com/davatar_29158cc5080c5b710cf443261637dec0","Economic & Housing Research Note  \nMARCH 2021  \nRefinance Trends in 2020  \nThis past year was a busy year for the mortgage market. While the economy was in recession, record low mortgage interest rates contributed to refinance activity reaching near record highs. Many borrowers saved thousands of dollars by lowering their mortgage rate through refinances. This Research Note highlights some of the key trends defining refinance mortgage activity in 2020.  \nRefinance volume climbs  \nDespite an economy rocked by the COVID-19 pandemic, mortgage market activity in 2020 increased. With mortgage rates reaching historical lows in 2020, mortgage refinancing activity reached its highest annual total since 2003. There were an estimated $772 billion in inflationadjusted 2020 dollars in single-family first lien refinances in the fourth quarter 2020. For full-year 2020, there were about $2.6 trillion in inflation-adjusted refinance originations, more than double the volume in the prior year, but still less than the $3.9 trillion in 2003.1  \nEXHIBIT 1  \nU.S. single-family mortgage refinance originations (2020 U.S. dollars, billions)  \n$1,200  \n$1,000  \n$800  \n$600  \n$400  \n$200  \n$0  \nAverage: $375B  \n$772B  \n2000Q1 2002Q1 2004Q1 2006Q1 2008Q1 2010Q1 2012Q1 2014Q1 2016Q1 2018Q1 2020Q1  \nSource: Freddie Mac Economic and Housing Research Total Market Estimates, Originations deflated by U.S. Bureau of Labor Statistics CPI-U All Items  \n1 Even not adjusted for inflation, 2003 refinance originations in nominal dollars ($2 .8 trillion) exceeded 2020 ($2 .6 trillion) .  \n© 2021 Freddie Mac  [www.freddiemac.com](www.freddiemac.com)  \nEconomic & Housing Research Note  \nAccording to Freddie Mac’s Primary Market Mortgage Survey, the 30-year fixed rate mortgage rate averaged 3.1% in 2020, a decline of about 90 basis points from a year earlier. Also, in 2020 house prices rose 11.6% on a year-over-year basis. Homeowners took advantage of record low mortgage rates and increased homeowner equity to refinance their properties, reducing their monthly payments and extracting equity through cash-out refinances.  \nRepeat refinances increased  \nWith mortgage interest rates falling rapidly throughout the year, we saw an increase in repeat refinances. Repeat refinances include loans that were refinanced two or more times within a 12-month period. In 2020, 10.1% of refinances were repeat refinances, up from 7.8% in 2019, but less than the 16.6% in 2003.  \nEXHIBIT 2  \nIn 2020, repeat refinances increased  \nShare of refinances that are under 1-year old and the prior transaction was a refinance  \n18%  \n16%  \n14%  \n12%  \n10%  \n8%  \n6%  \n4%  \n2%  \n0%  \n1998 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020  \nSource: Freddie Mac’s fourth quarter 2020 Refinance Report.  \nMarch 2021 2  \nEconomic & Housing Research Note  \nRepeat refinances were much more prevalent in high housing cost metro areas where the average unpaid principal balance of mortgages is higher. In 2020, almost 20% of conventional refinances in Los Angeles-Long Beach Anaheim, CA MSA were repeat refinances while only 3.1% of refinancesin the Dallas-Fort Worth-Arlington, TX MSA were repeat refinances ( Exhibit 3) .  \nEXHIBIT 3  \nRepeat refinances in 2020 by MSA  \nOverall repeat finances for the United States were 10.1%  \nFewer refinances  More refinances  \nSan Francisco  \n19.0%  \nLos Angeles  \n20.0%  \nNew York  \n7.1%  \nPhiladelphia  \n6.1%  \nBaltimore  \n6.1%  \nSeattle  \n12.7%  \nBoston  \n14.2%  \nRiverside  \n17.6%  \nDenver  \n14.0%  \nPhoenix  \n15.5%  \nMinneapolis 7.6%  \nChicago 12.3%  \nDetroit  \n11.5%  \nPittsburgh  \n3.6%  \nSt. Louis  \n11.9%  \nDallas  \n3.1%  \nAtlanta  \n6.9%  \nHouston  \n3.5%  \nTampa  \n4.9%  \nMiami  \n4.6%  \nWashington D.C. 9.0%  \nSource: Freddie Mac 2020Q4 Refinance Report.  \nNote: Repeat Refinances are defined as share of refinances that are under 1-year old and the prior transaction was a refinance .  \nMarch 2021 3  \nEconomic & Housing Research Note  \nBorrower savings from refinances  \nOn avera","cbCaimHGjmQmFYLM","https://ap.wps.com/l/cbCaimHGjmQmFYLM","pdf",1013650,11,"English","# Refinance volume climbs\n## U.S. single-family mortgage refinance originations\n# Repeat refinances increased\n## Repeat refinances in 2020 by MSA\n# Borrower savings from refinances\n## Average mortgage rate reduction and annual payment savings","[{\"question\":\"为什么2020年的再融资活动会大幅增长？\",\"answer\":\"2020年抵押贷款利率降至历史低位，促使大量借款人把贷款利率进一步下调，从而推动再融资量接近历史高位。报告也指出，房价上涨带来的自有权益提升帮助业主更愿意进行再融资。\"},{\"question\":\"什么是“重复再融资”？2020年的占比变化如何？\",\"answer\":\"重复再融资指在12个月内对同一笔贷款进行两次或以上再融资的情况。2020年重复再融资占比为10.1%，高于2019年的7.8%，但仍低于2003年的16.6%。\"},{\"question\":\"借款人通常能获得多少节省？不同地区是否有差异？\",\"answer\":\"报告显示，2020年平均降息幅度在不同样本中可见，且采用30年固定利率对30年固定利率再融资的借款人平均可在年度按揭支付上节省超过2,800美元。节省金额在都会区之间差异明显，例如洛杉矶、旧金山、西雅图与华盛顿特区等地的节省更高。\"}]","Economic & Housing Research Note - Refinance Trends in 2020 | PDF",28]