This story appeared in Bank Digest.
The Federal Housing Finance Agency has released its Refinance Report for the second quarter of 2015, which shows that Fannie Mae and Freddie Mac loans refinanced through the Home Affordable Refinance Program accounted for 5 percent of all refinancings in the second quarter of 2015. More than 31,500 homeowners refinanced their mortgages through the HARP program in the second quarter of 2015, with more than 3.3 million loans refinanced since the inception of the program, the report notes. According to the FHFA, refinance volume increased slightly in June 2015 after falling in May. The report said that mortgage rates continued to rise in June, with the average interest rate on a 30-year fixed rate mortgage reaching 3.98 percent.