The volume of government-sponsored enterprise loans that were refinanced ascended to the highest level in five months — though government supported refinances remain weak.

Refinances of loans backed or owned by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. totaled 124,997 units during August.

The last time that GSE refinances were this strong was in March, when primary mortgage originators refinanced 143,455 single-family loans.

Source: Mortgage Daily