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Inthe fourth quarter of 2009, 33 percent of borrowers who refinancedtheir loan lowered their principal balance, resulting in the highest“cash-in” share since Freddie Mac began tracking the characteristics ofrefinance transactions in 1985, according to the company’s refinancereport.

Consistent with the cash-in share, the report showedthat the share of borrowers who increased their loan balance by 5percent or more during the fourth quarter was at a record low of 27percent.