The Mortgage Bankers Association said its refinancing index rose 5. 9 percent from a seven-month low to 2, 116. 3 last week. Demand for refinancing was at least triple this level in March when mortgage rates hit their record lows, the group said.
On Monday, the MBA slashed its forecast by more than 25 percent for total mortgage loan origination in 2009, mostly due to fewer refinancings and a slow start to the federal Home Affordable Refinance Program.
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Posted by Mortgage News on 6/28/09 7:05 AM
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