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There has been a spike in the average mortgage loan amount for conventional refinance mortgages. This makes sense based upon the record low interest rates for new mortgages and the need for homeowners having variable rate mortgages to replace them with less risky fixed rate mortgages. More home owner debt refinanced at current interest rates results in significant savings for the borrowers. Based upon data collected from municipal recordings from more than 500 counties nationwide, the average conventional refinance mortgage jumped passed $210,000 in 2009 from below $200,000 in 2008. Because of stricter underwriting requirements and depressed home values, fewer conventional refinance mortgages were originated than previous time periods during the past 10 years.