Refinance Report - First Quarter 2014

Published: 05/28/2014

First Quarter 2014 Highlights

Refinance volume decreased in March, dropping to levels last observed in 2008. Mortgage rates have ranged between four to four and a half percent since June 2013. In March, mortgage rates increased: the average interest rate on a 30-year. fixed- rate mortgage rose to 4.34 percent.
In the first quarter of 2014, 76,930 refinances were completed through HARP, bringing the total refinances through HARP from the inception of the program to 3,134,889.
HARP volume represented 21 percent of total refinance volume in the first quarter.