Refinancing Plummets as Rates Rise; Purchases Fail to Pick up Slack
The rally in refinancing reported last week by the Mortgage Bankers Association (MBA) was short lived. Rates rose again during the week ended September 6, sending refinancing applications into a tailspin. MBA’s Refinancing Index, a measure of refinancing volume dropped 20 percent and has now fallen 71 percent from its recent peak during the week […]
