Freddie Mac borrowers who refinanced in the fourth quarter of 2012 overwhelmingly picked a fixed rate mortgage (FRM) and 27 percent of them chose to shorten their loan term.  Freddie Mac‘s Quarterly Product Transition Report released Tuesday said 69 percent of borrowers kept the same term as the loan that they had paid off; 4 percent chose to lengthen their loan term, primarily those with 20 year terms, 22 percent

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