Mortgage lenders delivered $85.5 billion of purchase loans to Fannie, Freddie and Ginnie MBS platforms in July, the highest monthly volume in years.

Private mortgage insurers came close to setting an all-time record for new business written through traditional flow transactions during the second quarter. FHA and VA also posted hefty gains from the first quarter.

Fueled by low rates, demand for FHA and VA refis was strong in the second quarter, although purchase loan originations for both programs hit the ceiling as well.