FHA Refinancings Continue to Outpace Purchase Transactions

Published March 13, 2013, 1:25 p.m. EDT

1 Min Read

Originations of FHA single-family loans totaled $23.6 billion in January, compared to $20 billion in the prior month, according to a new report by the Federal Housing Administration.

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The January FHA report shows that refinancings continue to exceed purchase mortgage transactions, a trend that started last year after FHA introduced a special streamline refi program for pre-June 2009 FHA-insured loans.

During the first four months (October to January) of fiscal year 2013, refinancings totaled $45.4 billion, up 112% from same period in FY 2012.

Meanwhile, FHA lenders completed $41.6 billion purchase mortgage transactions during the first four months of FY 2013, compared to $38.7 billion during the same period in FY 2012.

In January, FHA endorsed $12.8 billion in refinanced loans and $10.8 billion in purchase loans.

Brian Collins

Reporter

Brian Collins covers the housing and mortgage market, including the Federal Housing Administration and the Department of Housing and Urban... Read full bio

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