
Li-Ning Huang, Senior Manager of Fannie Mae’s Business Strategy Economic & Strategic Research says that 40-50% of Borrowers Have Not Refinanced.
Despite potentially significant savings, many eligible mortgage borrowers have not refinanced. According to the Fannie Mae National Housing Survey, approximately 40 to 50 percent of mortgage borrowers say that they have not refinanced the mortgage on their current home. Additional research from the Federal Reserve in 2001 shows similar results.
Why haven’t these borrowers refinanced while rates are at historic lower levels?
Ms. Huang reports:
Our study shows that “life cycle” factors, primarily years of homeownership and certain demographic factors, were reported by borrowers to be the dominant factors associated with their past refinancing behavior. In comparison, borrowers’ financial attitudes, grouped as “risk mitigation” factors, are the primary factors driving one’s likelihood to refinance in the future. The chart below presents the findings related to both analyses.
Read Ms. Huang entire commentary: Why Haven’t Nearly Half of Mortgage Borrowers Refinanced?
Are you thinking about refinancing?
If you are thinking about refinancing, we would appreciate the opportunity to help you.
Please contact us at your earliest convenience, and we’ll be happy to explain your options.

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