Refinancing Boom Ending

June 14, 2009 · Comment 

The recent run-up in mortgage rates has cooled the recent refinancing boom.   Refinancing applications fell 12% last week.  Mortgage applications fell 7.2%.
Freddie Mac reports 30-year mortgages averaged 5.59% this week,  the highest since November 2008.  Adjustable rate mortgages rose to 5.04%.
The Federal Reserve had been buying up Mortgage Backed Securities in order to drive down [...]