Residents of Pierce County who refinanced their home loans saved more than $66 million in 2013, according to a report out Tuesday (March 3) from the financial data firm SmartAssets.
Using data from Freddie Mac's fourth quarter 2013 Refinance Report, the company listed the top counties nationwide by criteria including the number of loans refinanced, the average amount refinanced, the annual savings per loan and the savings throughout the county.
In Washington, King County led with 49,664 loans refinanced, for a total annual savings of $286,066,497. Snohomish County followed with 17,405 loans financed for savings of $78,332,096.
Pierce County ranked third with 16,948 loans refinanced for total savings of $66,693,580. Also in Pierce County, the average amount refinanced was $203,717, with annual average savings of $3,935 per loan.
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In descending order of the number of loans financed in Washington, Pierce County was followed by Clark, Spokane, Kitsap, Thurston, Whatcom, Benton and Skagit counties.
In Thurston County, residents refinanced 6,097 loans for total savings of $23,777,785, or $3,900 per loan.