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June 12, 2012

Mortgage Activity Up Throughout N.E.

By Rick Saia

Low mortgage rates and increased home sales are boosting mortgage activity throughout New England, according to The Warren Group, which compiles real estate-market data.

While Massachusetts, Connecticut and Rhode Island all recorded strong activity so far this year, mortgage activity in Massachusetts has been the strongest, The Warren Group said. Total mortgage activity in the Bay State is up more than 28 percent statewide, rising to 99,097 in the first four months of this year from 76,930 during the same period in 2011.

Mortgages for home purchases have increased almost 13 percent to 13,376 from 11,851. Meanwhile, refinancings rose 32 percent to 85,721 from 65,079 during the first fourth months of 2011. March has been the strongest of the first five months of the year, with 22,877 mortgages filed statewide, The Warren Group said.

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