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From Forbes:

U.S. home loan applications spiked last week. The frenzy might be related to the government’s car salesman-style “get ’em while their hot” ploys to stoke, and possibly stabilize, the mortgage market.

On Wednesday, the Mortgage Bankers Association reported a 12.9% jump in applications for loans backed by government programs such as the Federal Housing Administration and the Veterans Administration. This sub-index rose to 375.2, nearly three times last’s year’s level.

Certain D.C. players are pushing to further expand the growing scope of Ginnie’s lending powers which lead to new, and perhaps, not so lucky for-profit bedfellows. (See “The FHA’s Private Partners” )

The MBA also posted a 5.4% jump in its seasonally adjusted index of mortgage application activity to 725.6 from 646.6 during the same period last year. The index of measuring mortgage refinancing applications for the week ended April 4 rose 3.4% to 2,724.7, and its home loan index climbed 8.1% to 384.7.


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