According to an analysis by Inside MBS & ABS, $1.88 billion of VA rate/term refinance loans were included in Ginnie MBS issued in February 2024, compared with $298.5 million in January.
“The recent boomerang in rates has dampened already tentative homebuyer momentum as we approach the spring, a historically busy season for homebuying,” said Sam Khater, chief economist at Freddie Mac.