After plunging to the weakest level in at least seven years, government-sponsored enterprise refinance volume bounced up to the second-slowest month during the period. HARP production fell to a new low.
In August, there were 90,506 single-family loans backed by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. that were refinanced by primary mortgage originators.
GSE refinance activity increased from 81,982 one month previous, when the pair of secondary mortgage lenders saw the fewest refinances since at least 2011.
Source: Mortgage Daily