CNBC, April 10th, 2019: Mortgage refinance boom goes bust as rates shift higher
A turnaround in interest rates turned borrowers back on their heels last week, deflating a quick boom in refinance demand.
Mortgage application volume fell 5.6% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Applications were still 24% higher compared with the same week one year ago, thanks to the recent run-up in refinances.
