Government-assisted refinancings spike

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Refinancings have decreased in the broader markets due to rising mortgage rates, however a Federal Housing Finance Agency report shows that government-assisted loan modifications and refinancings are on the rise.

According to the FHFA’s Third Quarter 2010 Foreclosure Prevention and Refinance Report, refinancings through the Home Affordable Refinance Plan increased 26-percent in the third quarter, while loan modifications through the Home Affordable Modification Program increased 16-percent.

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