• Ocwen5.20+0.31 +6.34%
  • Zillow32.94-0.91 -2.69%
  • Trulia47+0 +0%
  • NationStar15.93+0.88 +5.85%
  • CoreLogic40.08+1.15 +2.95%
  • RE/MAX57.90+1.40 +2.48%
  • Fannie Mae2.64+0.00 +0.00%
  • Freddie Mac2.52+0.01 +0.40%
  • Wells Fargo55.96+0.57 +1.03%
  • CitiMortgage59.42+1.09 +1.87%
  • Bank of America23.48+0.45 +1.95%
  • Lennar51.36+0.38 +0.75%
  • Fidelity National Financial38.91+0.33 +0.86%
  • D.R. Horton33.27+0.22 +0.67%
  • PulteGroup23.73+0.26 +1.11%
  • First American39.05+0.08 +0.21%
  • BKFS38.20+0.35 +0.92%
  • AUDUSD=X0.7638+0.0005 +0.0629%
  • USDJPY=X111.0620+0.0180 +0.0162%
To show sotck chart
Home >> Featured >> The MReport Webcast: Friday 8/19/2016
Print This Post Print This Post

The MReport Webcast: Friday 8/19/2016

The low mortgage rate environment has created an incentive for homeowners to refinance. But fewer and fewer of them are doing it through the government’s Home Affordable Refinance Program. The total number of refinances completed through HARP now stands at approximately 3 point 42 million as of the end of June 2016, according to FHFA’s Q2 Refinance Report released Thursday.

The total refinance volume increased in June, but the 18,310 borrowers who refinanced through HARP in the second quarter represented only 4 percent of total refinances—the lowest share for HARP since Q2 2009, when the program was launched. FHFA estimates that more than 320 thousand borrowers nationwide are eligible to refinance through HARP. The program is scheduled to expire at the end of the year.

The second quarter presented a set of mixed housing fundamentals, according to Fannie Mae’s August Economic and Housing Outlook. Home sales performed well during the second quarter; in June, both new and existing-home sales rose to post-crisis highs. But tight inventory from a lack of new construction continues to create affordability challenges, particularly at the lower end of the market, where first-time buyers are getting squeezed out by competition for houses.

About Author: Brian Honea

Profile photo of Brian Honea
Brian Honea's writing and editing career spans nearly two decades across many forms of media. He served as sports editor for two suburban newspaper chains in the DFW area and has freelanced for such publications as the Yahoo! Contributor Network, Dallas Home Improvement magazine, and the Dallas Morning News. He has written four non-fiction sports books, the latest of which, The Life of Coach Chuck Curtis, was published by the TCU Press in December 2014. A lifelong Texan, Brian received his master's degree from Amberton University in Garland.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

Scroll To Top