With mortgage rates remaining near historic lows, Fannie Mae and Freddie Mac seller/servicers completed the nearly same number of HARP refinancings in the first quarter compared to the prior quarter.
The Federal Housing Finance Agency reported Wednesday morning that 294,300 HARP refinancings were completed in the first quarter, compared to 297,460 in the fourth quarter of 2012.
The Home Affordable Refinancing Program provides
In the first quarter, 45% of HARP refis had LTVs above 105% and 22% had LTVs above 125%.
Lenders completed 98,980 HARP refis in March, up slightly from 97,730 in February, despite a slight increase in mortgage rates in March.
In March, 22% of HARP refis had LTVs above 125%.
