This week, the Mortgage Banker Association’s Government Refinance Index dramatically climbed to 8872 from 4010, which is a 120% week-over-week increase.

Although the rates, which shifted higher later in the week, do not offer any explanation, A final reason why the realized speeds will be less, Barclays Capital analysts said that last Monday’s changes to the Federal Housing Administration (FHA) streamlined refinance program do.

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