2012-06-11 — freerateupdate.com
``A total of 78 percent of all mortgages were refinances, the highest proportion since the end of February. The MBA also noted that borrowers were looking to refinance longer loans than in the past... 30-year fixed-rate loans remained the most popular option for those looking to refinance their mortgage, and were a total of 85 percent of all mortgage applications.''
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