Freddie Mac reported that 82 percent of homeowners who refinanced in the third quarter kept the same loan amount or reduced their principal balance by paying-in additional money at the closing table. Of this group, 37 percent reduced their principal balance and 44 percent maintained around the same loan amount. The other 18 percent were cash-out borrowers, who increased their loan balance by approximately 5 percent. For refi borrowers taking a new 30-year FRM, the median interest rate reduction was about 1.2 percentage points. In practice, that means a borrower with a $200,000 loan saves $2,500 in interest payments during...