Mortgage Refinancing plunge
Refinance Mortgage applications slumped last week as interest rates climbed from recent lows.
The Mortgage Bankers Association said its index of mortgage application activity, which includes both Refifnace and new home purchase mortgage loans, for the week ended Dec. 15 decreased 10.2% to 647.6 from the previous week's 721.2, which was its highest level in more than a year.
Borrowing costs on 30-year fixed-rate mortgage loans averaged 6.10%, up from 6.02% the previous week.
The Mortgage Bankers Association said its index of mortgage application activity, which includes both Refifnace and new home purchase mortgage loans, for the week ended Dec. 15 decreased 10.2% to 647.6 from the previous week's 721.2, which was its highest level in more than a year.
Borrowing costs on 30-year fixed-rate mortgage loans averaged 6.10%, up from 6.02% the previous week.
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