In the second quarter, 83% of the homeowners who refinanced their homes got a mortgage at least 5% larger than the original loan, unchanged from that of the previous quarter and down from 88% a year earlier, according to Freddie Mac.In the second quarter, an estimated 42% of all mortgage applications were for refinancings, down from 46% in the first quarter, the government-sponsored enterprise said in its quarterly refinance review. "We expect refinancing activity to slow further, [to] perhaps as low as one-third of new mortgage applications in the second half of 2007," said Frank Nothaft, Freddie Mac's chief economist. Freddie Mac can be found on the Web at http://www.freddiemac.com.
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