Mortgage refinancing is on the rise

at 10:15 AM ET, 02/08/2012

Calculated Risk — which believes the housing market has hit bottom and should be headed back up -- points to more potential signs of healing in the market. According to the Mortgage Bankers Association, mortgage refinancing is on the rise, increasing 9.4 percent over the previous week and 5.7 percent over the past month.

He also predicts that the changes the White House recently made to the Home Affordable Refinance Program — which helps those with Fannie and Freddie-held mortgages, but whose reach has been limited so far--should accelerate refinancing in the upcoming months as well.

Related:

Proposed settlement with banks over foreclosure practices dealt a setback

Where We Live: Washington’s source for real estate happenings

 
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