- The Washington Times - Wednesday, March 18, 2009

WASHINGTON (AP) - Fannie Mae said the volume of mortgage loans it refinanced in February totaled $41 billion, nearly triple January’s volume.

The mortgage finance company said Wednesday it was the largest figure in almost a year as a surge of homeowners took advantage of low interest rates and higher loan limits.

The company expects volume to increase more under President Barack Obama’s housing plan, which expanded the criteria for who qualifies for a new mortgage backed by government-controlled Fannie and Freddie Mac.

The pair own or guarantee almost 31 million mortgages worth about $5.5 trillion. That’s more than half of all U.S home mortgages.

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