Government-sponsored enterprises Fannie Mae and Freddie Mac have now refinanced more than 2 million loans through the Home Affordable Refinance Program (HARP), according to new data from the Federal Housing Finance Agency (FHFA).
Borrower demand has remained high with nearly 1 million home loans refinanced during the first 10 months of 2012, the FHFA said Feb. 19, which is more than in any single year since HARP was launched in 2009.
“The continued high volume of HARP refinances is attributed to record-low mortgage rates and program enhancements implemented in 2012,” the agency said in a statement.
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