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March 18, 2019

New Refinance and Affordability Tests Now Available

We posted a new Refinance Test (2018Q4) effective for all new loans, except for Small Balance Loans, starting Thursday, March 7 with a grace period up to Thursday, March 21.

Changes to the test include market and interest rate data modifications. To more accurately represent refinance risk, the rates multiplier was adjusted which keeps the implied 10-year forward rate in the test at 4.66 percent. Combined with broader market changes, the updated test is getting slightly more restrictive than last release. 

To access the new Refinance Test, visit our Refinance Test and Resources page. Please contact your Freddie Mac Multifamily representative with any Refinance Test questions.

We also posted an updated version of the Affordability Test. This resource provides you with estimated affordability profiles, including the most current FHFA cap exclusions.

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