Mortgage Refinance Applications Fall 5% as Rates Rise

Maurie Backman, The Motley Fool
·3-min read
Mortgage Refinance Applications Fall 5% as Rates Rise

There's a reason so many homeowners have been eager to refinance their mortgages recently. Refinance rates have dropped substantially, giving borrowers a prime opportunity to slash their monthly mortgage payments. Mortgage refinance applications fell 5% for the past week, reports the Mortgage Bankers Association.