Monthly refinances of government-sponsored enterprise mortgages increased, though the government-supported refinance program is barely active.

Data from the Federal Housing Finance Agency indicate that 121,871 Fannie Mae and Freddie Mac single-family loans were refinanced during June.

GSE refinance volume ticked up from the preceding month, when there were 116,882 Fannie and Freddie mortgages were refinanced by retail lenders.

Source: Mortgage Daily