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December 05, 2019

New Refinance Test Effective December 5

We posted a new Refinance Test (2019Q3) effective for all new loans, except for Small Balance Loans, starting December 5 with a grace period up to December 19.

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 4.46%. Combined with broader market changes, the updated test is getting slightly less 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.

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