FHA US Refinances by State -May Data Now Added.

I have updated the US Current FHA Refinance Report I previously posted about in April . (Prior post is HERE).

The permanent link has been added in right pane--look for "US Current FHA Refinance Report".

Highlights from the April-May 2008 Refinance Report:

• The total of all FHA refinances was nearly 97,000 loans, representing nearly $17 Billion in FHA commitments.
• 71,470 FHA Secure loans were made, representing $12.6 Billion in FHA commitments. FHA Secure loans represented 75% of all FHA refinancing activity, meaning that 25% of FHA refinanced loans were existing FHA loans.
  
• Of the FHA Secure total of 71,470 loans only 1,082 were conventional delinquent loans refinanced into an FHA loan. Those delinquent conventional loans represented only 1.1% of all FHA refinance loans in April.
  
• With all of its troubled real estate, California still had a total of only 1,636 FHA refinances. Of those, only 17 of those were delinquent conventional loans refinanced into an FHA loan. (Oregon, a much smaller market, had the same number of conventional delinquent loans refinanced into an FHA loan (17), while the Oregon 1,283 total refinance loans was only 28% smaller than the California total of 1,636 FHA refinances).
• The report data is my compilation from HUD posted monthly FHA Snapshot reports.