This report provides monthly data and analysis on mortgage rates, refinance volume, and Home Affordable Refinance Program (HARP) volume by state, LTV buckets and other measures.
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Report Highlights
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Refinance volume continued to be strong in September as 30-year mortgage rates reached new record lows.
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HARP volume continued to represent a material portion of total refinance volume in 2012 as HARP enhancements took effect in the first half of the year. HARP volume represented 24 percent of total refinance volume in the third quarter of 2012.
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Borrowers in September with loan-to-value ratios greater than 105 percent continued to account for half the volume of HARP, and 26 percent were for deeply underwater borrowers with loan-to-value ratios greater than 125 percent.