Refinance Application-Level Index
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.
RALI ($) Percent Change for Week Ending June 24, 2022
Week over Week
Year over Year
For the holiday-shortened week ending June 24, 2022, the dollar volume of refinance applications decreased 10.0 percent week over week. RALI dollar volume is down 72.3 percent compared to the same week last year. RALI count decreased 10.1 percent week over week and is down 71.8 percent compared to the same week last year.
Note: Due to the upcoming July 4 federal holiday, RALI for the week ending July 1 is scheduled for release on Wednesday, July 6 at 10 a.m. ET. Please consult our publication calendar for additional information.
Comment from Doug Duncan, Fannie Mae Chief Economist:
"As expected, the latest holiday-shortened week led to a large contraction in refinance applications amid a largely flat mortgage rate environment. RALI dollar volume for the week was down 72 percent year over year, similar to the decline in refi activity seen before the holiday-shortened week."
Historical Comparisons – RALI ($) Percent Difference
Q3 2020 "Refi Boom"
Q4 2018 "Refi Slowdown"
*Change in the average RALI dollar volume for the last four weeks over the average for the four weeks ending a week earlier.
Opinions, analyses, estimates, forecasts, and other views of Fannie Mae's Economic & Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae's business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.