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FHA refinance mortgage originations reached a new monthly high in May. May also represents the sixth consecutive month of increases in the number of FHA refinance transactions. There were 83,458 FHA refinance mortgages in May and the total loan amounts were 16.48 billion dollars. This represents a 68 percent increase in the number of FHA refinance origination over the prior year. In May of 2008, there were 49,680 FHA refinance mortgages and a total refinance loan amount of 8.85 billion dollars. In April of this year there were 81,078 FHA refinance mortgages with total loan amounts of 15.79 billion dollars. The monthly increase over April 2009 was 3 percent.
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