Despite a monthly drop in government-supported refinances, conventional agency refinance volume moved higher for the first time in a year.
Mortgage loan originators refinanced 117,297 Fannie Mae and Freddie Mac loans during April.
Activity picked up from the previous month, when 105,110 government-sponsored enterprise mortgages were refinanced.
It was the first time that GSE refinance volume increased since April 2013, when 463,586 loans were refinanced.
The numbers were reported Monday by the Federal Housing Finance Agency.
Fannie refinances accounted for 72,092 of the most recent number, up from 67,816 in March.
Another 45,205 Freddie refinances were closed, rising from 37,294.
Transactions completed through the Home Affordable Refinance Program made up 19,689 of April 2014’s activity, slipping from 19,992 a month earlier and plunging from 106,910 a year earlier.
In the five years since the Obama administration launched HARP, 3,154,578 refinances have been closed through the program.
