Appraisals are rarely needed for HARP and FHA Streamline Refinance transactions.

Jobs and housing are trailing market indicators. Both have made slow, steady growth since late-2011, and, finally, mortgage rates may be catching up.

You can still close a mortgage in 30 days these days. It may not be worth the risk of trying, however.

Flush with volume, some of the nation's largest FHA lenders are refusing to refinance loans currently held by rival banks.

HARP 2 refinances are picking up, with Nevada, Michigan and Arizona leading the charge. California is not far behind.