Freddie Mac released its quarterly report on refinancing activity — this was for Q4 2011 — and the results show that “homeowners who refinance continue to strengthen their fiscal house.”

Some highlights:

  • Only 15% of borrowers increased their loan balance after refinancing at a lower rate — the lowest level in 26 years of “cash-out” refinancing.
  • Similarly, 37% kept about the same loan amount, and 49% reduced it. These “cash-in” borrowers are also at the lowest level in more than a quarter century.
  • The median refinancing for a 30-year mortgage dropped borrowers’ rate by 26% (about 1.4 percent), which saved a typical buyer about $2,700 in interest just in the first year.

There’s plenty more for numbers geeks — click here to read it all over at Freddie’s site.